Tuesday saw a slight increase in oil prices, putting it on pace for a third straight day of increases. This increase was fuelled by market confidence that holiday travel in China would increase fuel demand as well as anticipation that U.S. inventories would show a decline in crude stocks.

Travel to Asian nations is still recovering, according to reservations made in China for travels there over the forthcoming May Day holiday. According to weekly supply data, U.S. oil stockpiles are predicted to slip by 1.7 million barrels.

Brent crude ticked up 10 cents to $82.83 per barrel while US WTI added 15 cents to $78.91. Both climbed above 1% yesterday.

At their future meetings, the U.S. Federal Reserve, the Bank of England, and the European Central Bank are all anticipated to hike interest rates. On May 1-2, the Fed will meet.

Traders were anticipating information on U.S. stockpiles from industry association the American Petroleum Institute on Tuesday. Analysts anticipate a decrease in crude inventories of roughly 1.7 million barrels.