Crude oil futures ended higher on Tuesday amid improving risk sentiment thanks to the coordinated efforts by major central banks to rescue troubled U.S. and European banks. The dollar was quite subdued with investors looking ahead to the Federal Reserve's monetary policy announcement on Wednesday. Meanwhile, a meeting of key ministers from OPEC+, which includes OPEC members plus Russia and other allies, is scheduled for April 3.
Benchmark crude oil futures for April delivery rose $1.69 or about 2.5 percent to settle at $69.33 a barrel on the New York Mercantile Exchange. Brent crude for May delivery gained $1.37 or about 1.86 percent to settle at $ 75.16 (provisional) a barrel on London's Intercontinental Exchange.