Crude oil futures ended marginally higher on Tuesday as traders looked ahead to weekly inventory reports from the American Petroleum Institute and Energy Information Administration. However, gains remained capped as surging coronavirus cases outweighed encouraging developments on the vaccine front. According to reports from across the globe, Covid-19 cases continue to surge. Sweden is reportedly moving to restrict the size of public gatherings after a spike in new coronavirus cases.
Crude oil futures for December gained 9 cents or about 0.2 percent to settle at $41.43 a barrel on the New York Mercantile Exchange. However, January Brent crude fell 7 cents or 0.2 percent to settle at $43.75 a barrel on London's Intercontinental Exchange.