Oil Market Update

Oil futures finished modestly higher Tuesday, holding near a two-week high, as upbeat manufacturing data boosted the outlook for crude demand ahead of weekly reports on U.S. petroleum supplies.

On the New York Mercantile Exchange, crude for delivery in May CLK5, +3.74%  settled at $47.51 a barrel, up 6 cents, or 0.1% — the contract’s third-straight session gain. That was the highest settlement for a front-month contract since March 11.

May Brent crude LCOK5, +2.90%  on London’s ICE Futures exchange fell 81 cents, or 1.5%, to $55.11 a barrel.

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