Crude oil trade traded mixed during the Asian session, as investors awaited the inaugural address of US President Joe Biden who will officially take over the White House on Wednesday.
The benchmark Brent crude futures rose 0.4% to $ 55 a barrel, while the US WTI declined at $ 52.34 a barrel.
Investors are optimistic about demand in China, the world's largest importer of crude oil, after data released on Monday showed factory production rose 3% to a new record by 2020.
China is also the only major economy in the world that could avoid a contraction last year as many countries struggled to fight the Covid-19 pandemic crisis.
At the same time, however, the market was also burdened by new concerns over demand after China tightened restrictions on the country following the surge in the Covid-19 case, causing 3 million residents to undergo a curfew.
Meanwhile, fuel sales in India, the third largest crude oil importer in the world by 2020, also raise market concerns.
