Tuesday morning's oil prices are down after two days of increasing in the wake of progress made in rolling out the US' new trillion-dollar infrastructure package as well as better-than-expected export figures from China – both of which support the outlook for future oil demand.

A barrel of European reference oil Brent trades Tuesday morning CET for USD 83.36 against USD 83.59 late Monday night and USD 83.18 on Monday afternoon. US counterpart West Texas Intermediate sells concurrently for USD 81.91 against USD 82.09. WTI changed hands for USD 81.71 at ended central European trading hours at 5 p.m.

US President Joe Biden's infrastructure plan worth USD 1trn, ratified in Congress over the weekend, has along with figures on Chinese exports led to raised expectations for oil exports.

Even so, crude prices fall Tuesday morning after two days of rising.

According to estimates from JPMorgan Chase & Co.'s commodity analysts, oil demand is already near the pre-pandemic level of roughly 100 million barrels per day.

Demand is also slated to rise further in step with air traffic normalizing and needing more jet fuel, say analysts cited by Reuters.

However, the question is whether the economy can continue to grow with the current price level for oil.

"The big unknown is whether economies can achieve growth amid the current high price environment, or potentially in an even higher price scenario," says Louise Dickson, senior oil markets analyst at Rystad Energy.

In October, fuel prices surged while several big oil suppliers maintained output.

Biden is expected to try to intervene in ongoing oil price increases, said US Secretary of Energy Jennifer Granholm on Monday.

Although the US president's powers are limited in the context of a global market, Granholm said.

US oil inventories are projected to rise for the third consecutive week, potentially playing a role in keeping prices in check.

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