Brent and NYMEX earn in Asia as traders look ahead to API estimates
On Tuesday, crude oil prices held their revenues with traders cautious after bearish supply forecasts unsettled the energy market overnight and also ahead of industry estimates on American stockpiles.
The American Petroleum Institute is expected to publish its estimates of American crude and refined stockpiles late on Tuesday, with the US Department of Energy to issue its own more closely-watched data on Wednesday.
In New York, September delivery WTI crude futures soared 0.23%, hitting $43.23 per barrel, while October delivery Brent crude futures soared 0.33% at $45.28 per barrel.
Overnight, oil futures edged down abruptly, going down to a new three-month minimum, as continuing concerns regarding global oversupply as well as a resurgent American dollar remained in focus.
During Monday's trading session, crude sagged to its lowest value since late-April as market participants reacted to further indications of a supply glut on global energy markets.