- WTO adds voice to better-than-expected chorus.
- US trade advisor walks back negative trade comments.
Crude oil prices were supported by a tailwind from Bank of America (BAC), which upgraded its forecast for Brent by more than $5 per barrel. BofA analysts on Monday defended their forecast by noting improvements in demand, along with strict compliance among parties to OPEC+ curtailments. The rally was extended on Tuesday after a top US economic policymaker clarified his stance on the durability of the nascent trade deal with China, the world's second-largest economy. A cap on Asian