Oil prices clawed back gains on Tuesday after Brent crude hit its lowest in close to a month following a report that the U.S. government had asked Saudi Arabia and other major exporters to increase oil output.
U.S. West Texas Intermediate shrugged off the report, ending Tuesday's session up 77 cents, or 1.2 percent, at $65.52, rallying from a nearly two-month low of $64.22 earlier in the session.
Brent crude futures were up 5 cents to $75.34 a barrel by 2:23 p.m. ET, climbing back from a session low of $73.81. The contract fell 2 percent the previous day.
The U.S. government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, three OPEC and industry sources said, although it has not requested a specific figure.
Earlier on Tuesday, Bloomberg reported that the U.S. government had asked them to increase oil production by about 1 million barrels per day (bpd).