Oil Prices Stable as Market Awaits Data on Inventories, Economy

Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week.

The international benchmark Brent contract dipped 6 cents to $90.58 a barrel, while US West Texas Intermediate crude futures edged 2 cents lower to $87.27.

Brent reached $90 a barrel last week for the first time in 10 months after Saudi Arabia and Russia announced they would extend voluntary supply cuts of a combined 1.3 million barrels per day, or bpd, until the end of the year.

Investors awaited industry data on US crude stockpiles due on Tuesday evening.

Source: Qatar News Agency