By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures advanced Tuesday, leaving behind a tentative floor-trade opening as U.S. stocks gained and sentiment about Greece improved.
Crude for October delivery CL1V +0.92% added 68 cents, or 0.6%, to $86.28 a barrel on the New York Mercantile Exchange.
Oil retreated 2.6% on Monday, notching the lowest settlement in nearly three weeks on worries Greece would soon run out of cash and default, putting a stop on the fragile global economic recovery.
Greece made coupon payments on Tuesday, according to media reports. It also sold short-term bonds. Read more on Greece's bill payments.
On Monday, Greek officials soothed markets by saying the country was close to agreement over a fresh injection of aid, according to a report in The Wall Street Journal.
Other energy products tracked crude higher on Tuesday, with October gasoline RB1V +0.67% adding 1 cent, or 0.4%, to $2.71 a gallon.
Keeping a lid on more significant gains for energy commodities, the International Monetary Fund downgraded its prospects of the global economy. Read more about the IMF's forecast.
The multilateral cut U.S. growth forecast to 1.5% this year and 1.8% in 2012. The IMF’s 2011 forecast is a full percentage point lower than its expectations three months ago and 0.9% below its prior forecast for 2012.
Claudia Assis is a San Francisco-based reporter for MarketWatch.
