Brent crude rose to $74.50 a barrel on Tuesday, extending gains for a third straight session, boosted by signs of economic recovery in China, the world's largest crude importer.
Chinese factory activity expanded for a third month, boosted by recent stimulus measures.
However, despite the current momentum, Brent is on track for a slight annual loss after months of trading in a narrow range.
Looking ahead, the market faces significant uncertainties, including the risk of oversupply, geopolitical tensions and potential changes in oil policy under the incoming Trump administration.
Source: Trading Economics
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