Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro.
Brent crude oil futures LCOc1 rose 22 cents to $48.38 a barrel by 1042 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 10 cents to $45.25 a barrel.
The euro rose for a second day against the dollar EUR= after an 11-year low on Monday, ahead of a meeting of the Federal Reserve that may push back expectations for when U.S. interest rates will start to rise.
Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed out and warned of a jump to $200 a barrel if investment in new supplies was too low.
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