Oil prices stabilized on Tuesday as concerns over clashes between Iraqi and Kurdish forces eased and on expectations of high U.S. production and exports.
U.S. West Texas Intermediate (WTI) crude futures ended Tuesday's session 1 cent higher at $51.88 per barrel. It rose as high as $52.25 and fell as low as $51.21 during trading.
Brent crude futures were up 8 cents at $57.90 by 2:30 p.m. ET (1830 GMT), down from a session high of $58.35.
The Baghdad government recaptured territory across oil-rich northern Iraq from Kurds on Tuesday, widening a campaign that has shifted the balance of power in the country.
Reports that Iraqi and Kurdish forces had reached a preliminary agreement on borders helped to push down prices, said John Kilduff, partner at energy hedge fund Again Capital.