Rising oil prices as US inventory data awaits


Oil prices rose on Tuesday, with US inventory data and many developments in the awaited crude markets.

Black gold was able to shift to a positive range after seeing a significant drop in the previous trading session, supported by China's disappointing data, which points to an additional weakness in global economies.

The US Petroleum Institute is expected to announce preliminary inventory data in the United States later in the day, with official figures being released by the US Energy Information Administration on Wednesday.

US crude was the first high in four sessions on Monday, with doubts about OPEC's decision on production levels after the US president called on the Organization to implement measures to cut prices.

At 7:34 GMT, the benchmark Brent crude for June delivery rose 0.1% to $ 72.14 a barrel.

Nymex oil futures for June delivery rose 0.1 percent to $ 63.59 a barrel.


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