Oil prices ended higher on Tuesday, finding support from expectations of a slowdown in U.S. oil production as traders awaited weekly updates on petroleum supplies.Crude production, however, has continued to flow from other major producers as they look to defend their market share, putting a cap on any price gains.
November West Texas Intermediate crude CLX5, -1.13% tacked on 80 cents, or 1.8%, to settle at $45.23 a barrel on the New York Mercantile Exchange. November Brent crude LCOX5, -0.87% rose 89 cents, or 1.9%, to $48.23 a barrel on the ICE Futures exchange.
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