Gains limited by concerns of slowing global fuel demand
Oil prices rose on Tuesday as the US dollar eased against peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from oil importing economies such as China.
However, signs of uncertain economic activity in the US and China, the world’s two biggest oil consumers, limited the increase. US business activity contracted for a fourth month in October, with manufacturers and services firms saying in a monthly S&P Global survey of purchasing managers published on Monday that client demand is falling .
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