Oil prices rose Tuesday on expectations China’s plan to boost government spending will keep global oil demand robust and on concerns simmering tensions between the U.S. and Iran may disrupt oil supplies. Light, sweet crude for September delivery ended 63 cents, or 0.9%, higher at $68.52 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, was up 0.5% at $73.44 a barrel. China’s State Council revealed new measures to support growth, such as tax breaks and special bonds for infrastructure investment, which translated into broad buying in financial markets. “Oil rose today on Chinese stimulus, a risk-on rally in stocks and commodities, and on heightened US-Iran jawboning,” said Ethan Bellamy at Baird Equity Research. “We doubt the ramp in rhetoric between Trump and Iran will amount to much. In contrast, we would expect other producers to step up and use the geopolitical turmoil as cover […]