Oil prices rose more than 1% on Tuesday as recent sharp falls have encouraged investors holding short positions to book profits, but the market remains jittery over the Wuhan virus, which has now killed more than 1,000 in China.

Brent crude (LCOc1) rose 79 cents, or nearly 1.5%, to $54.06 a barrel by 0216 GMT, while U.S. West Texas Intermediate (CLc1) was up 63 cents, or about 1.3%, to $50.20.

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