Oil prices continued to rise Tuesday as traders anticipated that official data will show a drop in U.S. crude stockpiles.
The U.S. Energy Information Administration (EIA) will release its weekly data about the country's oil inventories Wednesday.
Some analysts expected U.S. crude inventories probably dropped by more than 2 million barrels last week.
Meanwhile, Saudi Arabia, the world's top oil exporter, will cut crude allocations to Asia in July to a total of about 300,000 barrels per day (bpd), deeper than in June.
The West Texas Intermediate for July delivery rose 0.38 U.S. dollar to settle at 46.46 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery gained 0.43 dollar to close at 48.72 dollars a barrel on the London ICE Futures Exchange.
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