Oil prices rose in Asian trade on Tuesday, buoyed by the prospect of supply cuts in the world’s largest crude producers, while expectations of more stimulus measures in major importer China also helped support sentiment.
Still, caution over upcoming U.S. inflation data and Federal Reserve speakers kept gains limited, as markets sought more cues on the world’s largest oil consumer.
Crude prices had a weak start to the week amid fears of rising U.S. interest rates and worsening economic conditions, following hawkish signals from Fed officials and weak economic data from China.
