Although oil marched toward $111 a barrel on Tuesday, its highest level in nearly two weeks, some professional traders doubt it will continue to climb.
While a slightly weaker U.S. dollar may have lured some investors, pro trader Anthony Grisanti argued it has more to do with the technicals. In the last few sessions, oil has found support at $90 a barrel, he noted. Between a glut in oil supplies and a sluggish global economy, he doesn't think crude will push much higher than current levels.
(Read More: Brent Crude Climbs Toward $111)