Oil dips but holds above US$40 as investors call bottom on commodity rout(Update)

International benchmark Brent crude futures managed to defend $40 per barrel in early trading on Tuesday, standing at $40.51 at 0154 GMT, down 33 cents from their last settlement. On Monday, the contract had surged over 5.5 percent in intra-day trading and remains 50 percent above 2016 lows from Jan. 20

Oil prices rally