Oil prices edged higher on Tuesday after encouraging US consumer confidence data, as traders tracked news from a major energy summit in Cancun, Mexico.
New York's main contract, light sweet crude oil for delivery in May, settled up 20 US cents at $US82.37 a barrel.
The market moved higher after a closely watched survey revealed that US consumer confidence rebounded in March, reversing some of the pessimism seen the month before.
The Conference Board, a business research firm, said on Tuesday that its consumer confidence index rose to 52.5 points in March from a revised 46.4 in February.
In Mexico, meanwhile, the world's biggest energy forum opens later on Tuesday to urge oil producers and consumers to help prevent a repeat of the excessive price volatility witnessed during the global economic crisis.
In London, Brent crude added 11 US cents to settle at $US81.28 on the ICE futures exchange.
April gold futures fell $US5.80 to settle at $US1,104.50 per fine ounce.
May silver fell 5.7 US cents to settle at $US17.330.
May copper settled 2.8 US cents higher at $US3.5635 per pound.
