You're reading: Reuters: Oil edges up as analysts say market could be closer to balance than expected

Oil prices rose early on Tuesday as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.

A drop in the dollar away from seven-month highs the previous day .DXY also supported crude, as a lower greenback makes fuel purchases cheaper for countries using other currencies domestically.

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