Oil traders are bullish at the start of the week.
Oil markets are moving higher in absence of strong catalysts.
The recent sanctions on Iranian oil did not provide support to oil markets.
Gasoline inventories increased by 2.2 million barrels, putting additional pressure on oil markets.
Oil markets gain ground as traders focus on potential supply disruptions.
U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.81 cents, to $72.35 at 2309 GMT after leaders of Mexico and Canada said U.S. President Donald Trump has agreed to pause imposing steep tariffs for one month.
Oil markets moved into the negative territory as U.S. tariffs on Mexico were paused for a month.
WTI oil is trying to settle back above the $73.00 level.
WTI crude remains under pressure below $73.50 as sellers dominate. Key support at $72.32; a break could drive prices toward $71.25.
Oil traders focus on Trump's tariff plans and ECB Interest Rate Decision.
Rising gasoline inventories served as an additional bearish catalyst for oil markets.
Oil markets lost momentum and pulled back amid demand worries.