Oil futures tallied a seventh straight session gain on Tuesday, the longest for the U.S. benchmark since the eight-session string of gains that ended on July 3, 2017, according to Dow Jones Market Data.
Progress toward a trade resolution between the U.S. and China helped ease worries about energy demand and December declines in crude output from Saudi Arabia have contributed to the gains in oil prices.
The Energy Information Administration on Wednesday is also expected to report a decline of 1.4 million barrels in crude stockpiles for the week ended Jan. 4, according to survey of analysts conducted by S&P Global Platts.
February West Texas Intermediate oil added $1.26, or 2.6%, to settle at $49.78 a barrel on the New York Mercantile Exchange.
Source : Market Watch