Oil futures were lower during the Asian session on Tuesday.
On the New York Mercantile Exchange, Oil Futures for August traded on delivery at $110.09 a barrel, down 1.53%.
Oil futures were likely to find support at $104.56 and resistance at $111.44.
The Dollar Futures Index, which tracks the performance of the US dollar against a basket of six major currencies, posted gains 0.02% to trade at $104.97.
Elsewhere on the ICE, Brent Oil for September delivery posted losses 0.09% to trade at $113.40 a barrel, while the spread between Brent Oil and Crude Oil came in at $3.31 a barrel on contracts.
While we wait for Joe Biden's speech this Wednesday, we'll have to deal with the Fed and OPEC+ earlier in the day.
As for OPEC+, nothing material is expected at the April 28 meeting, according to Russian Deputy Prime Minister Alexander Novak.
OPEC+, a group made up of the original 13 OPEC members, led by Saudi Arabia, and 10 other allies, decided on April 1 to increase production by 350,000 barrels a day in May and June and by more than 400,000 bpd in July. .
Additionally, Saudi Arabia will ease its unilateral cut of 1 million bpd over the same period, starting with increases of 250,000 bpd in May and June.
Source: investing.com
