Crude oil futures ended slightly higher on Tuesday amid traders assessed Chinese industrial production and GDP data. Data released by China's National Bureau of Statistics showed the nation's gross domestic product was up 4.5% on year in the first quarter of 2023. Traders now await weekly crude inventory data from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The EIA is scheduled to release its inventory data on Wednesday.
Benchmark crude oil futures for May delivery rose $0.03 to settle at $80.86 a barrel on the New York Mercantile Exchange. Brent crude for June delivery added $0.01 to settle at $84.76 a barrel on London's Intercontinental Exchange.