Oil prices rose for an eighth day on Monday, marking its longest stretch of daily gains in more than five years after data pointed to moderating U.S. output.
U.S. West Texas Intermediate (WTI) crude futures ended Monday's session $1.03, or 2.2 percent, higher, at $47.07 per barrel. That marked a four-week closing high, adding to last week's 7 percent gain.
Brent crude futures climbed 92 cents, or 1.9 percent, to $49.69 per barrel by 2:35 p.m. ET (1835 GMT), after jumping 5.2 percent last week, its first weekly gain in six weeks. Brent traded at its highest intraday level in more than three weeks on Monday.
Crude posted its longest unbroken stretch of gains since February 2012.