West Texas Intermediate futures for December delivery climbed to $42.03 (+0.77%), while Brent crude advanced to $43.94 (+0.85%) after the American Petroleum Institute said on Tuesday that U.S. crude stockpiles fell last week by 482,000 barrels due partly to higher refinery activity. Official data by the U.S. Energy Information Administration will be released later today.

Nevertheless crude remained under pressure as analysts expect oil to meet 2016 at low prices. Ample supplies continue outpacing demand.