Oil prices rise after bruising losses; Fed, key China data awaited
Investing.com-- Oil prices rose slightly in Asian trade on Tuesday after plummeting nearly 3% in the prior session amid easing concerns over Middle East supplies, with focus now turning to upcoming Chinese economic readings and a Federal Reserve meeting.
But traders remained wary of any new developments in the war, especially as Israel launched a massive ground offensive on Gaza. Any signs of economic health in China point to better crude demand in the country, which has been otherwise struggling to shore up growth this year.
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