Crude Oil futures rose Tuesday, breaking a three day losing streak. Light, sweet crude for December delivery settled 87 cents, or 1.1%, higher at $79.55 a barrel on the New York Mercantile Exchange. A buying surge late in Tuesday's session overturned Crude's earlier losses caused by a stronger Dollar.
A report due today at 14:30 GMT is expected to show U.S Oil Inventories increased slightly. However, despite high Oil inventories, as long as equity markets stay stable the price of Oil should go up. Strong equities support Oil Prices as was evident Tuesday; despite weak consumer confidence, there was still appetite for riskier assets such as stocks and Oil.