12.12.201708:08:00UTC+00Crude Oil In Rally Mode

Crude oil prices rose further Tuesday ahead of U.S. inventories data.

The American Petroleum Institute is out with its industry survey this afternoon, while the Energy Information Administration reports tomorrow.

Stockpiles have dwindled over the past month, but demand from refineries is expected to have tailed off this week. Gas prices have been heading lower amid lower demand.

WTI light sweet crude oil was up 50 cents to $58.48 a barrel.

The Bureau of Labor Statistics' Producer Price Index or PPI for November will be announced at 8.30 am ET. Consumer price data follows tomorrow.

The Redbook data, a measure of comparable store sales at chain stores, discounters, and department stores for the week will be issued at 8.55 am ET. In the prior week, the Store sales were up 3.0 percent.