The West Texas Intermediate for December delivery increased 1.84 U.S. dollars, or 2.1 percent, to settle at 88.37 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery added 1.84 dollars, or 2 percent, to settle at 94.65 dollars a barrel on the London ICE Futures Exchange.
The U.S. Energy Information Administration will release its weekly petroleum status report on Wednesday. Analysts surveyed by S&P Global Commodity Insights expect the report to show a decline of 1.6 million barrels in U.S. crude supplies during the week ending Oct. 28.
Traders also paid close attention to the Federal Reserve as the U.S. central bank will make an announcement on rates on Wednesday afternoon when concluding a two-day policy meeting.
Aggressive policy tightening by major central banks to tame inflation has raised concerns about a potential recession and its impact on energy demand.
Last month, oil prices reaped a gain, buoyed by an output cut decision by the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+.
For October, the U.S. crude benchmark rallied 8.9 percent, while Brent climbed 7.8 percent.
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