Oil prices gain as focus shifts to supply recovery and demand

Oil prices edged higher Tuesday, but the move was capped as traders shifted focus from easing Middle East tensions to expected supply increases and demand outlook. Net effect is incremental and suggests limited near-term upside as fundamentals may offset geopolitical tailwinds.

Analysis

Oil prices edged higher Tuesday, but the move was capped as traders shifted focus from easing Middle East tensions to expected supply increases and demand outlook. Net effect is incremental and suggests limited near-term upside as fundamentals may offset geopolitical tailwinds.