•Global crude futures recovered from an early selloff in European trading Tuesday, following Monday's plunge across the oil complex and global stock markets, sources said.

•"The oil market is linked to whatever is happening in the financial market as opposed to oil fundamentals. After the biggest one day drop, Dow Jones futures are up a couple of hundred points and this is bringing a bit of stability to some commodities including oil this morning," a broker said The Dow industrials lost 6,8% or 778 points on Monday to 10365.45, its biggest point decline in history, and its biggest percentage decline since the 1987 stock market crash, after US lawmakers rejected the proposed $700 billion bailout package.

•"We suspect that Congress will eventually come up with a plan that all sides can live with. There is simply too much at stake by failing to pass a massive cash injection, Ed Meir of MF Global said in a report."

Updated: September 30, 2008