- Sino-U.S. trade war stokes concerns over global growth.
- Traders look to U.S. inventory data.
Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near eight-month lows around $60 a barrel due to escalating trade tensions between China and the United States.
Brent prices have lost more than 9% in the past week, with U.S. President Donald Trump vowing to impose new tariffs on Chinese imports, and China making further moves against U.S. agricultural cargoes.
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The United States also responded to a decline in China's yuan on Monday by branding the country a currency manipulator.
International benchmark Brent futures were up 28 cents at $60.09 a barrel by 0910 GMT, having dipped earlier in the session to their lowest since Jan. 14 at $59.07.
West Texas Intermediate crude futures rose 38 cents to $55.07 per barrel.
With global equities hitting a two-month low on Monday, Brent fell more than 3% that day as traders worried the dispute between the world's two biggest oil buyers would dent demand, helping to prompt Tuesday's short-covering.
"It's difficult for oil to hold (up) when you have such moves in equities," Petromatrix analyst Olivier Jakob said.
"Brent at $60 a barrel is an important support level. It would be difficult for Brent to collapse below this level unless there is a further collapse in equities."
Meanwhile, Iran has threatened to block all energy exports out of the Strait of Hormuz, through which a fifth of global oil traffic passes, if it is unable to sell oil as promised by a 2015 nuclear deal in exchange for curbing uranium enrichment.
Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels after Iran seized a British-flagged vessel.
Oil prices could find some support later on Tuesday, with a Reuters poll showing U.S. crude oil inventories were expected to have fallen for an eighth consecutive week.
The American Petroleum Institute is set to release its weekly inventory data at 4:30 p.m. EDT (2030 GMT), with official government numbers to follow on Wednesday.