Crude oil futures swung into positive territory Tuesday morning, reversing losses earlier in the day, as reports emerged that Saudi Arabia would allow crude prices to rise above $80/b. At 1040 GMT, the November ICE Brent crude futures contract was up $0.97/b from Monday's settle at $79.02/b, while the NYMEX October light sweet crude contract was up 86 cents at $69.77/b. The US dollar was up 0.07%. On Tuesday morning, Bloomberg reported that Saudi Arabia was comfortable with rising prices in the short term as the market adjusts to the start of US sanctions on Iran, citing people familiar with the kingdom's view. ... (full story)