Crude Oil Product rose slightly. WTI increased by 0.3%, closing above 68 dollars per barrel. Brent Crude Oil remained basically flat around 72 dollars per barrel.

Traders are focusing on the market outlook from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) later this week, as well as the US Consumer Price Index on Wednesday, which will be the last major economic data report before the Federal Reserve's policy meeting.

Tensions in the Middle East continue to brew. The fall of the Assad regime has left a power vacuum, and various factions competing for control may lead to more turmoil, with the market concerned about whether this will have spillover effects elsewhere in the region.

The US Energy Information Administration (EIA) stated in a report on Tuesday: "Escalation of regional conflicts may reduce oil supply, and regional political uncertainty may increase risk premiums."

WTI Crude Oil Futures for January delivery rose by 0.3%, settling at 68.59 dollars per barrel.

February Brent settled basically flat at 72.19 dollars per barrel.