London: Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.
Brent crude oil was up 40 cents at $52.06 a barrel by 0715GMT. US light crude was 35 cents higher at $47.72.
"US crude oil stocks have been falling consistently in recent weeks," said Fawad Razaqzada, market analyst at futures brokerage Forex.com.
"If the downtrend in oil inventories is maintained, then a bullish case can be made for oil, especially given the ongoing supply restrictions from Opec and Russia," he added.
US commercial crude inventories have fallen by almost 13 per cent from their March peaks, to 466.5 million barrels.
US crude production has broken through 9.5 million barrels per day (bpd), its highest since July 2015, but analysts say growth may slow as US energy firms cut the number of rigs drilling for new oil.
"It looks like the growth in US production is quickly running out of steam and, all else being equal, this should be good news for Opec and the price of oil," said Erik Norland of CME Group, a major commodity exchange.
The Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers including Russia have pledged to hold back around 1.8 million bpd of output between January this year and March 2018 in order to tighten supplies and prop up prices.
The weekly rollout of data on US inventories starts later on Tuesday, giving the market a chance to see if the recent downward trend in US crude stocks is continuing.
Industry group the American Petroleum Institute will publish statistics on crude inventories and refinery operations for last week at 4:30pm EDT (2030GMT).
On Wednesday, it will be the turn of the US government's Energy Information Administration.
US crude inventories are expected to have fallen for an eighth straight week and drop by 3.4 million barrels, a Reuters poll shows.
"Another decline in US crude stocks may push prices somewhat higher again, but the upside may be limited - especially if US crude production ticks higher again," said Hans van Cleef, senior energy economist at ABN AMRO Bank N.V. in Amsterdam.