Oil prices rose in early Asian trading on Tuesday, but price movements were limited as the market awaited monthly reports from oil agencies.
Brent crude futures for May delivery rose 23 cents to $82.44 a barrel by 02:21 GMT. The US crude contract for April rose 17 cents to close at $78.10 a barrel.
Prices were mostly unchanged on Monday as oil supply concerns linked to the fighting in the Middle East eased.
“Crude oil is trading in a narrow range as traders await demand estimates from the monthly reports of three major oil agencies,” analysts from ANZ said in a note.
“While we believe estimates will remain largely unchanged, any surprise that pushes prices higher will ease concerns about demand,” they added, referring to data from the Organization of the Petroleum Exporting Countries (OPEC), the International Energy Agency and the Energy Information Administration.
