Investing.com - Oil futures were mixed on Tuesday as investors weigh up the impact of an expected increase in supply from the Middle East.
U.S. crude futures for July delivery were up 10 cents, or 0.20%,, at $49.43 a barrel at 0645ET, while Brent crude for August delivery declined 0.56% to $50.08 a barrel.
U.S. futures were buoyed by the start of the U.S. summer driving season, while Brent crude was lower amid reports Iraq plans to increase supply by 5 million barrels in June.
Other OPEC Middle East members also plan to increase shipments in the third quarter, while Canadian oil sands output is also expected to rise after being disrupted by wildfires.