Oil Up For 4th Day On Short-Covering, Supply Glut Caps Gains

Crude oil futures rose for a fourth consecutive session on Tuesday as investors covered short positions, though worries over a festering supply glut kept a lid on prices. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.3 percent, at $43.50 per barrel by 0323 GMT. Brent crude futures gained 14 cents, or 0.3 percent, to $45.97 per barrel. 

The market is up slightly so far this week after dropping for the past five weeks. The market has fallen a lot as the news has been bad pretty consistently for the oil market, chief market analyst at CMC Markets in Sydney.

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