Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the US economy capped gains.
Brent crude was down 5 cents to $88.14 per barrel by 0436 GMT after rising to a session high of $88.36. US West Texas Intermediate (WTI) crude rose 2 cents to $81.64 per barrel after climbing to $81.88 earlier in the session.
Commodities like crude oil, refined petroleum products, LNG, and soybeans are set to benefit from China’s demand tailwind, analysts at Goldman Sachs said.
