Brent crude futures rose to approach levels of $91 a barrel in early Asian trading, Tuesday, as investors awaited a series of macroeconomic data scheduled for release later this week, which may indicate whether Europe and the United States will continue to raise interest rates.
Brent reached $90 a barrel last week for the first time in ten months after Saudi Arabia and Russia announced they would extend voluntary supply cuts amounting to a combined 1.3 million barrels per day until the end of the year.
Price action
By 0251 GMT, the price of Brent crude, the global benchmark, rose 30 cents, equivalent to 0.3 percent, to $90.94 per barrel, and US West Texas Intermediate crude futures rose 38 cents to $87.66.
