Oil prices recovered Tuesday in tandem with European stock markets but remained below $50 a barrel as fears of a major automaker bankruptcy in the U.S. sparked renewed jitters over the global economy, Associated Press reported. Benchmark crude for May delivery was up $1.19 to $49.60 by midday in Europe in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell more than 7.6 percent, or $3.97, to settle at $48.41. In London, Brent prices gained $1.48 to $49.47 a barrel on the ICE Futures exchange. In other Nymex trading, gasoline for April delivery gained 2.01 cents to $1.40 a gallon while heating oil rose 2.33 cents to $1.3659 a gallon. Natural gas for May delivery added 7.6 cents to $3.815 per 1,000 cubic feet.
