Oil prices rose on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs imposed by both countries.
Reports on Tuesday that China will increase infrastructure spending helped lessen fears that U.S.-China trade tensions will reduce the country's demand for oil, said Phil Flynn, analyst at Price Futures Group in Chicago.
"That's going to be very bullish for oil demand," Flynn said. "Infrastructure spending from China in the past had really jacked up oil demand, and I think that's adding some outside support for prices."
In addition, after an 8 percent decline from multi-year highs, buyers are coming back into the market, said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.