Investing.com - Oil recovered from heavy overnight losses Tuesday ahead of stockpile data.
However, doubts still remain about the possibility of an agreement among major producers to curb supply.
U.S. crude was up 36 cents, or 0.77%, at $47.34 at 06:45 ET, while Brent crude added 038% to $49.64.
American Petroleum Institute U.S. stockpile data are due out later in the session.
These will be followed Wednesday by official Energy Information Administration (EIA) figures.
The EIA is expected to report a rise of 1.31 million barrels in U.S. crude stocks in the latest week.
The dollar index was up 0.22% on bets of a U.S. rate hike this year.
A stronger dollar tends to depresses demand for oil.