Oil prices rose Tuesday after Saudi Arabia raised the official prices for its oil, suggesting that demand is firm. U.S. oil for April delivery settled up 93 cents, or 1.9%, at $50.52 a barrel on the New York Mercantile Exchange. Brent, the global price benchmark, rose $1.48, or 2.5%, to $61.02 a barrel on London’s ICE Futures exchange. Saudi Arabia raised the price of its light oil for April delivery by $1 a barrel in the U.S. and $1.40 a barrel in Asia. In recent months, Saudi prices have been closely watched as an indicator of the country’s strategy. Saudi Arabia opted not to reduce production as prices plunged in recent months, fueling perceptions that the country is trying to force U.S. shale-oil producers to cut back instead. The kingdom also cut its prices to the U.S. last year and has lowered its prices for Asian buyers for months. […]