Oil prices dipped in Asian trading on Wednesday, pausing a four-day rally fueled by a U.S.-China tariff truce and soft inflation data, as investors weighed an unexpected rise in crude inventories from an industry report.

Most Asian stocks rose on Tuesday as investors cheered a sharp deescalation in the U.S.-China trade war, although Chinese markets lagged amid some profit-taking and speculation over a delay in more local stimulus. 

Oil prices edged higher on Tuesday, with gains capped by rising supplies and caution over whether the pause in the U.S.-China trade war will lead to a longer-term deal.

Goldman Sachs cut its recession forecast for the U.S. to 35% from 45%, the first major brokerage to do so, after a temporary tariff truce with China boosted hopes of some easing in the global trade war.

International travel spending in the United States is expected to decline about 7%, or $12.5 billion, in 2025 as politics and a strong dollar prompt foreign visitors to opt for other destinations, according to the World Travel and Tourism Council.

The dollar retreated slightly on Tuesday but held on to most of the previous session’s gains on lingering optimism over a tariff deal between the United States and China, which tapped the brakes on a trade war between the world’s two largest economies.