February crude oil contracts rose by 7% on Tuesday. However, contracts for March are down.
US February crude, which expires at the close of trade on Tuesday, rose $US2.67 to $US39.18 a barrel by 14:20 EST (1920 GMT).
March crude fell $US1.39 to $US41.18 a barrel. London Brent fell 48 cents to trade at $US44.02 a barrel.
A slump in demand in the United States and Europe has helped bring crude prices down from a record of $US147.27 per barrel on 11 July.
