Crude oil futures settled higher on Tuesday, buoyed by a weaker dollar and concerns about supply after Saudi Arabia's energy minister commented that energy stocks were being used as a mechanism to manipulate markets.
Oil prices slipped more than 1% earlier in the session amid concerns about the outlook for global demand, particularly in China.
Data released over the weekend showed demand from the world's largest crude importer remained lackluster in September as a result of strict COVID-19 policy that has crimped business and trade.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.