Oil futures turned higher Tuesday after hitting fresh five-year lows earlier in the session. U.S. crude futures for February delivery were up 15 cents, or 0.2%, to $53.75 a barrel. February Brent crude futures on London's ICE Futures exchange briefly turned higher, but have since returned to the red, trading down 3 cents at $57.85 a barrel. A weekly U.S. supply report is due from the American Petroleum Institute later Tuesday, followed by the U.S. Energy Information Administration's report on Wednesday. Analysts polled by Platts are looking for a decline of 1.25 million barrels of commercial crude stocks for the week ending Dec. 26.
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