Oil prices up ahead of US retail sales data

The price of oil was slightly higher ahead of the release of U.S. retail sales data later Tuesday.

Benchmark oil rose 42 cents to $93.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 14 cents to close at $92.73 in New York on Monday. Brent crude, which is used to price international varieties of oil, rose 58 cents to $113.40 per barrel in London. (AP)