Crude oil higher after data driven pressure

Oil prices were little changed on Tuesday, with West Texas Intermediate, the U.S. benchmark, hovering around $81.60 a barrel.

Oil futures are at seven-year highs and are up 70 percent this year amid a global energy crunch that is pushing prices higher for other commodities.

Following a mixed session Monday triggered by weaker than expected economic data in the United States and China, WTI futures nearest delivery and Brent crude rallied in overnight trade, pushed by expectations of a rapidly tightening global oil market, with gains in petroleum products demand this winter seen far outpacing growth in global oil production.

WTI for November delivery, which expires Wednesday afternoon, climbed above $83 per barrel, gaining $0.53.

December contract traded with $0.82 discount to the soon to expire contract. December Brent futures on ICE pared gains to trade near $84.74 after topping $85 in overnight trade.

November RBOB futures on the NYMEX retreated by 1.39 cents to trade near $1.2423 per gallon, and front month ULSD futures slipped 0.34 cents to $2.5458 per gallon.