Crude prices rose after a cautious start on Tuesday, boosted by warnings that a tropical storm was about to hit the coast of oil producing state Texas. The U.S. National Hurricane Center (NHC) issued a tropical storm warning on Tuesday for the Texas coast from Baffin Bay to High Island. More than 45 percent of U.S. refining capacity is located along the U.S. Gulf Coast, which is also home to about half of the total U.S. natural gas processing capability. U.S. crude futures were up around half a dollar at $60.05 a barrel at 0700 GMT (0300 ET), staying within a trend channel of $57-$62 per barrel that has been in place since the beginning of May. Brent also rose, gaining 22 cents to $64.17 per barrel. Analysts said Brent’s gains were largely down to firm demand for refined products, such as gasoline, in Asia. “Over the first […]