Working oil pumpjacks on the outskirts of Maricopa in Kern County, California, on Sept. 21, 2023.
Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies.
"Crude oil traded in a tight range as traders await demand estimates from the monthly reports by three key oil agencies," analysts from ANZ said in a note.
"While we believe the estimates will be largely unchanged, any upside surprise will ease demand concerns," ANZ said, referring to the Organization of Petroleum Exporting Countries, the International Energy Agency, and the Energy Information Administration.
Prices had been mostly unchanged on Monday as oil supply concerns tied to ongoing fighting in the Middle East eased.
Persons:
Brent, Israel
Organizations:
ANZ, Organization of Petroleum, International Energy Agency, Energy Information Administration
Locations:
Maricopa, Kern County , California, U.S, Gaza