Oil prices were little changed on Tuesday after the United States and China extended a pause on higher tariffs and data showed a rise in U.S. inflation in July.

The US and China have extended their trade truce until 10 November, just hours before a jump in tariffs had been set to take effect. In a joint statement, the world's two biggest economies said higher tariffs on each other's goods announced earlier this year will be suspended for another 90 days.