Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the worlds biggest oil exporters and awaited data that could help ascertain demand.
Brent crude futures rose 33 cents, or 0.4%, to $78 a barrel, and US West Texas Intermediate crude was up 35 cents, or 0.5%, at $73.34.
Prices had eased 1% on Monday on higher expectations that further US interest rate hikes are coming and as investors took profit.
Investors as well awaited the release later this week of US Consumer Price Index data, a key inflation report, and economic reports from China to gauge the outlook for demand.
Source: Qatar News Agency