Oil prices rose on Monday, clawing back some of the previous session's steep losses, although gains where capped by uncertainty over global economic growth and further signs of increasing supply.
Brent crude futures were up $1.67, or 2.8 percent, at $60.47 a barrel by 2:26 p.m. ET. Brent sank 6 percent on Friday.
U.S. West Texas Intermediate crude futures ended Monday's session up $1.21, or 2.4 percent, at $51.63 a barrel. The gains partly made up for Friday's 7.7 percent drop.
Prices on Friday hit their lowest since October 2017 amid intensifying fears of a supply glut. Brent sank to $58.41 a barrel, while WTI fell to $50.15 a barrel.
"Prices slumped heavily last week," Commerzbank commodities analyst Carsten Fritsch said. "It is therefore not surprising to see a counter move."