WASHINGTON (dpa-AFX) - Oil futures settled slightly up on Tuesday as traders assessed Chinese industrial production and GDP data, and also weighed the data showing a drop in eurozone and German investor sentiment.
West Texas Intermediate Crude oil futures for May ended higher by $0.03 at $80.86 a barrel.
Brent crude futures were down marginally at $84.74 a little while ago.
Data released by China's National Bureau of Statistics showed the nation's gross domestic product was up 4.5% on year in the first quarter of 2023. GDP was up 2.2% on a seasonally adjusted basis, matching forecasts following the flat reading in the previous quarter.
However, Chinese industrial production grew by 3.9%, missing expectations for a 4% increase. But it was still up from 2.4% in February.
Traders now await weekly crude inventory data from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API's report is due later today, while the EIA is scheduled to release its inventory data Wednesday morning.
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