Mcx crude oil tipsBrent crude reversed early losses to trade back towards $57 a barrel on Tuesday, as a weaker dollar overshadowed signs of slowing growth in China and Saudi Arabian oil production close to an all-time high.
The dollar slipped 0.25 percent against the euro, extending losses from the previous session and providing a boost to dollar-priced commodities, which tend to move inversely to the U.S. currency.
Brent futures for May delivery were trading up 64 cents at $56.56 by 1020 GMT, while U.S. crude rose 60 cents to $48.05 a barrel. Its discount to Brent widened to $8.51 a barrel.
Gains were capped by data showing factory activity in China, the world's second-largest economy and top oil importer, slipped in March.
