Crude continues to recover after a slump on Monday, reclaiming $52.00 handle on the day. However, the sideline theme of crude oil remains unchanged due to alternating risk trend and persistent fear of global slowdown amid US-China trade dispute.
Meanwhile, the oil prices remain supported due to output cut decision by OPEC+ and US sanctions on oil.
Further fresh impetus will be provided weekly US EIA and API reports due on Wednesday.
Immediate hurdle for crude oil is at $52.20 ahead of $54.20 and $54.50. On the flip side, immediate support for the oil is at $51.10 followed by $50.70 and then $50.30.
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