Oil prices were marginally lower on Tuesday as rising coronavirus cases continued to weigh on investor sentiment, even as an expected decline in US crude oil inventory for a fifth straight week offered support.
Coronavirus cases across the world crossed 90 million on Monday, Jan.11, according to Reuters.
Separately, Goldman Sachs said Brent crude could rise to $65 per barrel by summer 2021, compared to its earlier estimate that oil would hit $65 by year-end.
In terms of trading, international benchmark Brent crude was up 0.1% at $55.72 per barrel, at 9 am Makkah time.
WTI crude rose 0.2% to $52.36 a barrel.
The American Petroleum Institute is due to release preliminary estimates on US crude inventories later today.
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