Oil edges up as multi-year lows trigger buying

By Karolin Schaps LONDON (Reuters) - Oil prices edged higher on Tuesday as a slump to near 11-year lows in the previous session whetted investors' buying appetite, but a lingering supply glut kept prices near troughs last seen during the financial crisis. Brent crude, the global benchmark, had risen 75 cents to $38.67 a barrel by 1417 GMT, on track to break its seven-session losing streak. It's pretty obvious shorts started to take profit when Brent prices dropped down to the 2008 low," said Tam