Oil Finishes Tuesday Mostly Higher

Oil prices showed a mixed performance on Tuesday, as the market is anticipating the decision of the OPEC+ alliance regarding output policy next month.

Brent continued to rise, reaching its highest level in 13 months, while the U.S. benchmark most active contracts gave up earlier gains and closed lower with production in Texas yet to recover from the recent winter storm, which led to increased demand for energy and heat sources.

Brent crude futures for April delivery increased by 13 cents, or 0.2%, to close at $65.37 per barrel, its highest closing level since January 2020.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery lost 3 cents to finish at $61.67 per barrel, after trading as high as $63 a barrel earlier in the session.