Oil prices rose for a fourth consecutive session on Tuesday as investors covered short positions, although worries over a persistent global supply glut still lingered.
Brent crude futures, the international benchmark for oil prices, had gained $1.07, or 2.3 percent, to $46.90 per barrel by 10:51 a.m. ET (1451 GMT).
U.S. West Texas Intermediate (WTI) crude futures were up 91 cents, or 2.1 percent, at $44.29 per barrel.
The gains mean the market is up slightly so far this week, after spending much of the last month in negative territory.
"Short-term financial investors also significantly scaled back their net long positions in Brent on the ICE last week...and find themselves at their lowest level in a year and a half," Commerzbank said in a research note.