Oil prices edged higher on Tuesday propped up by a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.
The dollar fell to a near six-week low against a basket of currencies after U.S. President-elect Donald Trump said that the strong greenback was hurting U.S. competitiveness.
A weaker greenback makes dollar-denominated crude less expensive for users of other currencies.
"The oil market is actually weaker than it looks because it is being propped up by the weak dollar," said Phil Davis, managing partner at PSW Investments in Woodland Park, New Jersey.
U.S. West Texas Intermediate (WTI) crude oil futures settled up 11 cents at $52.48 per barrel, off a session peak of $53.52.
Brent crude futures, the international benchmark for oil prices, were down 38 cents at $55.48 per barrel at 2:35 p.m. ET (1935 GMT). They earlier rose to $56.95.