Oil advanced on Tuesday after a choppy session following a short-lived armed uprising in Russia, a major OPEC+ producer.
West Texas Intermediate futures climbed toward $70 a barrel after closing 0.3% higher on Monday. While the dramatic events in Russia over the weekend came to an abrupt end, they add further uncertainty to an oil market grappling with persistent concerns over the demand outlook, especially from China.
Chinese Premier Li Qiang said at a forum on Tuesday that the government would roll out more practical, effective measures to boost domestic demand, but those promises were largely reiterations of prior statements made by officials. Stocks in Asia and other commodities including copper rose.
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