Crude oil prices closed higher on Monday, marking a technical recovery after a volatile week that saw benchmarks shed nearly 10% of their value.
The rebound reflects a shift in market sentiment as traders recalibrated risk following a period of intense selling pressure.
38% for the session. US West Texas Intermediate (WTI) crude also posted gains, climbing 33 cents or 0.
Brent crude futures advanced to settle at $78.15 a barrel, up 24 cents or 0.38% for the session.
US West Texas Intermediate (WTI) crude also posted gains, climbing 33 cents or 0.46% to $74.19 a barrel.
The modest upside followed a sharp decline earlier in the week, suggesting that the initial panic over geopolitical risks has begun to stabilize.
The price action comes amid mixed reports regarding the status of negotiations between the United States and Iran.