A general view of the Phillips 66 refinery, as seen from Rodeo, CA - Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the U.S. continue to hike interest rates.
Brent reached $90 a barrel last week for the first time in 10 months after Saudi Arabia and Russia announced they would extend voluntary supply cuts of a combined 1.3 million barrels per day until the end of the year. Also looking ahead, U.S. August consumer price index data due on Wednesday could provide a steer on whether more increases to interest rates will be on the cards.
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