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Futures suggest a higher open on Wall Street as oil prices rebound

U.S. stock index futures pointed to a slightly higher open on Tuesday as traders focus on earnings and rising oil prices.

The commodity moved higher following media reports that OPEC countries will extend their output freeze deal.

On the data front, fourth-quarter current account figures showed the deficit fell, hitting its lowest level in more than a year, as an increase in the primary income surplus offset a
soybean-driven drop in exports.

Meanwhile, the Philadelphia Federal Reserve nonmanufacturing index slipped in March, but still showed overall business growth.

On the earnings front, General Mills and Lennar reported before the bell.FedEx, Nike and Petrobras are all due to report after the market close.

In Europe, the pan-European Stoxx-600 index was around 0.16 percent higher on Tuesday. In Asia, the Shanghai Composite in China closed 0.35 percent higher, while the Nikkei in Japan closed 0.34 percent lower.

In oil markets, Brent crude traded at around $51.76 a barrel on Tuesday, up 0.3 percent, while U.S. crude was around $49.04 a barrel, up 0.27 percent.