The U.S. crude oil price edged up on Tuesday while the Brent crude slipped, and the spread between the two benchmarks narrowed further.

Driven by solid U.S. corporate earnings, the market sentiment rose, which offered support to the U.S. crude price. And a weakening dollar, which dipped about 0.2 percent against a basket of currencies, also contributed to the price increase.

But the U.S. economic data offered no support. According to a closely-watched gauge, U.S. home prices in most major cities hit new lows in February, suggesting a struggling situation in the housing industry. Besides, the Conference Board's consumer confidence index slipped in April in a reflection of the softening general economy.

Investors were waiting for the inventories data due out on Wednesday and the Federal Reserve's updates about the U.S. economy following a two-day policy meeting.

Light, sweet crude for June delivery gained 44 cents, or 0.43 percent, to settle at 103.55 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for June delivery declined slightly and last traded around 118 dollars a barrel.