US crude rose 3.26 percent to $48.83 per barrel and Brent was last at $53.54, up 2.29 percent on the day. US gasoline prices were 3.15 percent lower at $1.69 per gallon.
Short-term disruptions and lower exports from OPEC members offset signs of stronger US oil production to help give crude oil prices a lift early Tuesday.
Crude oil prices have been volatil
Iraq and some other oil producers taking part in global output cuts think they should reduce supply by an additional 1 percent to help re-balance the market, according to Iraqi Oil Minister Jabbar al
Oil prices traded close to five-month highs on Tuesday after fresh data showed key Middle Eastern producers continued to cut supply in line with an OPEC-led deal aimed at ending a crude glut.
Oil held gains near $50 a barrel before U.S. crude stockpile data as refiners delay scheduled maintenance after Hurricane Harvey hit the Gulf Coast and shuttered almost a quarter of the nation’s refi
West Texas Intermediate (WTI) and Brent oil prices have increased to $50 and $55, respectively, and bullish oil signs continue to accumulate. Joint Organisations Data Initiative (JODI) just announced