Oil hovered near $51 a barrel Tuesday in Asia as investors mulled whether crude's two-month rally can be sustained while global demand remains weak.
Benchmark crude for May delivery rose 14 cents to $51.19 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange. The contract fell $1.46 on Monday to settle at$51.05.
Oil traders are looking to the beginning of first quarter corporate earnings season Tuesday for signs the worst of a severe recession could be over in the U.S.
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