Washington: Oil prices edged higher on Tuesday after data showed a sharp drop in U.S. crude, gasoline, and distillate inventories, suggesting stronger demand or tightening supply. However, gains remained limited as traders weighed concerns about oversupply and the effectiveness of new U.S. sanctions on Russian oil companies.

According to the latest data for the week ending October 24, U.S. crude inventories fell by around 4 million barrels, while gasoline stocks dropped by about 6 million barrels and distillate stocks decreased by more than 4 million barrels. The drawdown in inventories provided temporary support for the market after a week of price declines.

Despite this positive signal, analysts said the overall outlook for oil remains mixed. Rising U.S. production and potential out

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