Oil steadied after a two-day gain, with the outlook for China's economy and geopolitical risk in the Middle East remaining in focus.
West Texas Intermediate traded above $67 a barrel after rising by 1.5% over the past two sessions, with Brent closing near $71 on Monday. There were optimistic signals in the world's two biggest crude consumers, with Beijing planning further measures to boost consumption, while US retail sales came in stronger than expected — although they still showed a modest slowdown.
Geopolitical concerns also remained at the forefront after US President Donald Trump said he would view attacks by Yemen's Houthi rebels as equivalent to direct affronts by Iran. Defense Secretary Pete Hegseth earlier said that US strikes on Houthi sites would be "unrelenting" until the group stopped targeting vessels in the Red Sea.
WTI for April delivery fell 0.3% to $67.35 a barrel at 7:23 a.m. in Singapore.
Brent for May settlement closed 0.7% higher at $71.07 a barrel.
Source : Bloomberg
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