Oil prices are recovering on Tuesday morning after a sharp drop the day before.

May Brent futures were up $3.84 (3.84%) on the London ICE Futures exchange, to $103.78 per barrel. On Monday, Brent fell $12.25 (10.92%) to $99.94 per barrel.

May WTI futures were up $3.39 (3.85%) in electronic trading on the New York Mercantile Exchange NYMEX, to $91.52 per barrel. In the previous session, the contract fell $10.10 (10.28%) to $88.13 per barrel.