Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels. Brent crude LCOc1 futures rose 98 cents to settle at $79.03 a barrel, a 1.26 percent gain. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 94 cents to settle at $69.85 a barrel, a 1.36 percent gain. Ministers from the Organization of the Petroleum Exporting Countries and non-OPEC producers meet on Sunday to discuss compliance with output policies. OPEC sources have told Reuters no immediate action was planned and producers would discuss how to share a previously agreed output increase. Bloomberg reported on Tuesday, […]