08:51 AM EDT, 09/23/2025 (MT Newswires) -- Oil prices rose early on Tuesday, rebounding from four losing sessions as Chinese demand continues to offset rising supply.

West Texas Intermediate crude oil for November delivery was last seen up $0.69 to US$62.97 per barrel, while November Brent oil was up $0.61 to US$67.18.

Oil has traded in a tight range for most of the past two months as OPEC+ returned 2.2-million barrels per day of production cuts to the market even as the seasonal demand slows and the global economy weakens amid U.S. tariff battles.

While rising supply has major forecasting agencies expecting global inventories to rise over the fourth quarter and into 2026, weakening prices, Chinese buying has continued to support prices as the country builds a strategic oil reserve, buying up 1.16-million barrels per day over the second quarter, according to Rystad Energy.

"China's stockpiling has provided a temporary price floor by mopping up excess supply, yet its efficacy is constrained by geopolitical factors, global supply changes and Beijing's policy redirection. It is important to note that China's crude inventory changes are a critical buffer for the global oil market, and not a permanent solution," Lin Ye, Rystad's Vice President, Oil Markets, noted.

Geopolitical fears are also offering support to oil prices, as Ukraine continues its attacks on Russia's oil infrastructure, cutting into the No.2 exporter's ability to ship out crude and refined products. Rising risk appetites are also keeping prices high, with North American stock markets at or near record highs.