Crude oil prices rose in early Asia on Tuesday with U.S. industry petroleum stockpile data scheduled later in the day a focus.
The American Petroleum Institute will release its estimates of U.S. crude, distilalte and gasoline stoocks on Tuesday, followed by more closely watched U.S. Department of energy data on Wednesday.
Last week, API reported a crude build of 5.7 million barrels for the previous week, and the Department of Energy said stocks rose by 10.07 million barrels in the same time frame.
On the New York Mercantile Exchange, crude oil for delivery in March gained 0.08% to trade at $45.13 a barrel.
Crude oil futures erased losses to hit the highest levels of the session on Monday, as investors reacted to bullish comments made by OPEC Secretary-General Abdalla El-Badri.
On the ICE Futures Exchange in London, Brent oil for March delivery inched up 27 cents, or 0.55%, to trade at $49.06 a barrel. Earlier in the day, Brent touched a low of $47.59, down $1.20 on Monday.
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The American Petroleum Institute will release its estimates of U.S. crude, distilalte and gasoline stoocks on Tuesday, followed by more closely watched U.S. Department of energy data on Wednesday.
Last week, API reported a crude build of 5.7 million barrels for the previous week, and the Department of Energy said stocks rose by 10.07 million barrels in the same time frame.
On the New York Mercantile Exchange, crude oil for delivery in March gained 0.08% to trade at $45.13 a barrel.
Crude oil futures erased losses to hit the highest levels of the session on Monday, as investors reacted to bullish comments made by OPEC Secretary-General Abdalla El-Badri.
On the ICE Futures Exchange in London, Brent oil for March delivery inched up 27 cents, or 0.55%, to trade at $49.06 a barrel. Earlier in the day, Brent touched a low of $47.59, down $1.20 on Monday.
Read more Click here / www.trade4x.net
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