PositivesDespite a surprise contraction in Chinese manufacturing as reported on Monday:
prices continue to receive some support from lower OPEC+ production and expectations that U.S. oil inventories will book yet another draw for last week. If they do, it would be the third weekly draw in a row.
The American Petroleum Institute is reporting weekly inventory data later today, followed by the Energy Information Administration tomorrow.
Also, Chinese travel data remains robust, suggesting that despite the contraction in manufacturing activity, oil demand is in a healthier place than it was a year ago.