Key Points
NEW YORK (Reuters) -Oil prices rose a dollar a barrel on Tuesday as the U.S. dollar index fell to its lowest in over a week and as oil investors shifted focus away from geopolitical issues in the Middle East to the state of global economies...
U.S. West Texas Intermediate crude futures rose $1.32, or 1.6%, to $83.22 a barrel...
The U.S. dollar index weakened after S&P Global data showed U.S. business activity cooled in April to a four-month low on weaker demand..
On one hand there are still lingering doubts about the performance of Chinas economy, while on the other is an overriding sentiment that OPEC will hold firm on its price supportive actions, said Gaurav Sharma, an independent oil analyst based in London...
U.S. crude oil inventories are expected to have increased last week while refined product stockpiles are likely to have fallen, a preliminary Reuters poll of analysts showed...
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