Crude oil futures ended higher on Tuesday as ongoing concerns about tight supplies overshadowed worries about the global economic outlook. Russia and Saudi Arabia's recent decision to extend production cuts until the end of the year continued to support oil prices. Meanwhile, traders shrugged off some disappointing economic data as well as warnings the Federal Reserve may raise interest higher than currently anticipated.
Benchmark crude oil futures for November delivery rose $0.71 or 0.8 percent to settle at $90.39 a barrel on the New York Mercantile Exchange. Brent crude for November delivery gained $0.67 or 0.71 percent to settle at $93.96 a barrel on London's Intercontinental Exchange.