Crude-oil futures were slightly higher in Asia trade Tuesday on hopes that major world economies will take further steps to stimulate growth.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $97.25 a barrel at 0653 GMT, up $0.78 in the Globex electronic session. October Brent crude on London's ICE Futures exchange rose $0.37 to $116.15 a barrel.
"We will look for increased volatility this week, given the loss of a trading day for Nymex, Friday's non-farm payrolls data, and a delay in the release of the weekly [U.S.] petroleum storage report," said Stephen Schork, author of the Schork report.
Traders are looking ahead to European Central Bank President Mario Draghi's press conference Thursday for details on the bank's stimulus programs.
A further slowdown in China's manufacturing activity is fuelling hopes that the world's second largest energy consumer will take steps to spur the economy.
In an editorial, the People's Daily, the Chinese Communist Party's flagship newspaper, Monday called for authorities to build up an inventory of policy measures that could be used to rekindle growth but said officials should first address longstanding ills such as economic imbalances and industrial overcapacity.
Nymex reformulated gasoline blendstock for October--the benchmark gasoline contract--rose 251 points to $2.9979 a gallon, while October heating oil traded at $3.2088, 286 points higher.
ICE gasoil for September changed hands at $1005.50 a metric ton, up $4.00 from Monday's settlement.
