Oil prices settle higher ahead of fresh supply data

Crude-oil futures bounced back Tuesday ahead of the release of weekly U.S. oil inventory data, after hitting fresh multi-year lows on oversupply concerns.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, -1.11%  settled up 51 cents, or 1%, at $54.12 a barrel, snapping a three-session losing streak.

February Brent crude on London’s ICE Futures exchange LCOG5, -1.17% rose 2 cents to $57.90 a barrel.