Oil prices settled higher Tuesday, driven by optimism about tighter markets this year following softer exports from Iraq and Saudi Arabia. 

By 14:30 ET (18:30 GMT), the U.S. crude futures settle 0.9% higher at $83.47 a barrel and the Brent contract rose 0.6% to $87.38 a barrel. 

The U.S. dollar gained in European trade Tuesday ahead of the start of the latest Federal Reserve meeting, while the Japanese yen slumped despite the Bank of Japan ending its negative interest rate policy. 

At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% higher at 103.640, not far off a two-week high hit earlier in the session.

Bitcoin fell by as much as 6.5% on Tuesday, on track for its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks.

The price was last down 5.86% at $63,419, having dropped to a two-week low of $62,966, while ether fell 6.39% to $3,283.

Bitcoin was trading at $65,940.0 by 05:15 (09:15 GMT) on the Investing.com Index on Friday, down 10.10% on the day. It was the largest one-day percentage loss since November 9, 2022.

The move downwards pushed Bitcoin's market cap down to $1,320.0B, or 51.81% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $1,435.8B.

The U.S. dollar edged higher in European trade Thursday, retaining recent strength ahead the release of more cues on U.S. interest rates in the form of producer inflation and retail sales data. 

At 06:00 ET (10:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 102.490.

Gold prices fell slightly in Asian trade, but kept recent record highs in sight as markets awaited more cues on U.S. interest rates from upcoming producer price index and retail sales data.

Among industrial metals, copper prices also retreated in Asian trade, but remained closed to 11-month highs after reports of production cuts by Chinese smelters pointed to tighter markets. 

Broader metal markets were pressured by some resilience in the dollar before the economic data.

Oil prices rose slightly on Tuesday as the market weighed bearish U.S. economic data against OPEC's demand growth forecast and persistent geopolitical tensions.

Brent futures for May delivery rose by 21 cents to $82.42 a barrel at 11:50 a.m. EDT (1550 GMT). The April U.S. West Texas Intermediate (WTI) crude contract rose 31 cents to $78.24.

Gold prices fell in Asian trade on Tuesday, retreating from record highs as traders lock-in some profits ahead of key U.S. inflation data that is widely expected to factor into the path of interest rates.

Growing bets on interest rate cuts by as soon as June, coupled with increased safe haven demand, saw bullion prices surge to new record highs in March, with spot prices coming close to breaching $2,200 an ounce.

The U.S. dollar slipped lower in early European trade Monday, trading near two-month lows ahead of the release of key U.S. inflation data for more clues over the timing of the start of the anticipated Federal Reserve rate-cutting cycle. 

At 04:30 ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 102.287, after registering a hefty weekly loss of over 1% last, falling to levels last seen in mid January.

Gold prices steadied just below record highs in Asian trade on Monday, with focus turning largely to upcoming U.S. inflation data for more cues on when the Federal Reserve will begin cutting interest rates. 

Expectations of rate cuts saw bullion prices rise sharply to record highs last week, especially as Fed Chair Jerome Powell said that inflation was close to reaching levels the Fed was comfortable with.