Crude oil prices decreased further on Tuesday despite positive data update from China and a weaker Dollar.
Data released earlier had showed China's GDP rising by 4.5 percent in the first quarter. Markets were expecting the GDP to rise by 4 percent versus 2.9 percent in the previous quarter.
The Dollar Index which measures the Dollar's strength against a basket of 6 currencies too decreased 0.38 percent to 101.71.
Despite the favorable developments, both the crude oil benchmarks extended losses in Tuesday's trading. Concerns about the recent banking crisis triggering a credit crunch and impacting growth weighed heavily on sentiment.
Brent Oil Futures for June settlement traded between $84.25 and $86.52. It is currently at $84.48, down 0.33 percent from the previous close.
West Texas Intermediate Crude Oil Futures for June settlement too traded tight, between a high of $81.28 and a low of $80.39. The current price of $80.59 represents a loss of 0.30 percent from the previous close.
Industry data on change in crude oil inventories in the U.S. are due later in the day.
