Crude Oil After Short Decline Trade To $106 Per Barrel

WTI crude: Oil  traded higher above $106 per barrel on Tuesday, after a 7% decline in the previous session as investors were monitoring the situation in Ukraine and assessing the impact of Covid curbs in China .

The on global demand ahead of the OPEC+ meeting next Thursday. Shanghai lockdown could cut oil demand by as much as 200,000 bpd, according to Rystad Energy.

Meanwhile, major oil producers will meet to discuss its supply policy for May and the group has signaled it will stick to its existing plan and ratify an increase of 430,000 bpd in output