Oil prices rise as investors assess force majeure at Kazakhstan oilfield

LONDON, Jan 21 (Reuters): Oil prices rose on Wednesday as investors assessed a temporary shutdown at two large fields in Kazakhstan, expectations of a build in US crude inventories and fresh geopolitical tension tied to US tariff threats in its bid to gain control of Greenland.

Brent futures gained 20 cents, or 0.3 per cent, to $65.12 a barrel at 1215 GMT. The US West Texas Intermediate crude contract rose 18 cents, also 0.3 per cent, to $60.54 a barrel.

Both contracts closed about 1.5 per cent higher in the previous session after OPEC+ producer Kazakhstan halted output at the Tengiz and Korolev oilfields on Sunday due to power distribution issues.