Forecasts for lower US supply build boosting crude.
Oil price are rebounding after a dropping late last week on the Iran deal. WTI crude prices are up $1.46 to $50.68 on talk of lower than expected crude stockpiles at the Cushing, Oklahoma hub.
WTI crude oil for the past two weeks
It's a critical time of year for oil storage as refineries begin to shut down for maintenance in between the winter heating and summer driving seasons. It's the time of year when oil stockpiles traditionally peak and with storage near-capacity it's an especially delicate year.
API numbers released after US stock markets close on Tuesday will set the tone but early talk is that the build isn't especially bearish.
