Crude prices retreated on Tuesday after rallying the previous session, with markets focused on developments in the banking crisis and indications of strengthening demand in China, APA reports citing Reuters.
Prices eased after rising at the fastest pace in more than four months on Monday. West Texas Intermediate U.S. crude fell 4 cents, or 0.05%, to $72.77. Brent crude futures dropped 30 cents to $77.82 a barrel by 0312 GMT.
"Though risks remain in the banking system amid the recent event, dip-buys in crude oil could be the prevailing trend in the near term," said Tina Teng, an analyst at CMC Markets.