Crude oil futures rallied over 1% on Tuesday, recovering from the previous session’s sharp drop but the commodity remained vulnerable as comments by Saudi Arabia Oil Minister Ali al-Naimi continued to weigh. On the New York Mercantile Exchange, U.S. crude oil for delivery in February traded up $0.93 or 1.67% to $56.19 a barrel during European early afternoon trade. Prices plummeted $1.87 or 3.27% on Monday to settle at $55.26. Futures were likely to find support at $54.28, the low from December 18 and a more than five-year low and resistance at $58.53, Monday’s low. Oil futures remained under pressure after Naimi, along with other officials attending an energy conference in Abu Dhabi over the weekend, reaffirmed the Organization of the Petroleum Exporting Countries’ decision to hold output at current levels. The Saudi minister added that the recent drop in oil prices was due to the lack of coordination among other non-OPEC producers as well as speculators and misleading information. Oil prices came under broad selling pressure after OPEC announced on November 27 that it would not cut production. Markets have also been jittery as, despite an improving U.S. economy, headwinds continue to cool European and Asian economies and hamper demand for fuel and energy, while unrest in the Middle East and Ukraine has failed to disrupt supply as once feared. Elsewhere, on the ICE Futures Exchange in London, Brent oil for February delivery climbed $0.80, or 1.33%, to hit $60.91 a barrel, with the spread between the Brent and the WTI crude contracts stranding at $4.72.