Crude oil futures moved higher Tuesday but remained near three-month lows after an OPEC report suggested world demand would fall even as the group shoulders an increased share of production.
Light, sweet crude for June delivery was up 14 cents at $48.75 a barrel in Europe in electronic trading on the New York Mercantile Exchange. Heating oil and unleaded gas prices were up more than a cent at $1.3615 a gallon and $1.416 a gallon, respectively. Brent crude was 39 cents higher at $49.40 a barrel on the International Petroleum Exchange.
