Oil started higher in the new week amid concerns over the supply outlook against traders' commitments by leading central banks that longer, higher interest rates will be needed to combat rising inflation.
U.S. crude reversing the early decline after gaining a 2.5% premium last week, rising to $94 a barrel.
In Libya, clashes between militias in the capital have sparked fears of further turmoil that could put oil shipments at risk again as Europe is reeling from an energy crisis.
Meanwhile, Iran said trades with the United States on the European Union's proposal to revive the nuclear deal will continue until next month, curbing speculation that a deal that would pave the way for increased oil flows is imminent.
Crude oil is on track for the third straight month on fears that global growth will slow as central banks aggressively tighten policies and hurt consumption.
Federal Reserve Chairman Jerome Powell warned of the need for higher rates, while a senior European Central Bank official said there was "little choice" but to continue even if the region's economy fell into recession.
To counter the weakness, Saudi Arabia last week raised the possibility of the Organization of the Petroleum Exporting Countries and its allies to cut production with support from other members. Separately, there were interruptions in shipments for Kazakhstan crude oil from an export terminal.
James Whistler, Managing Director of Vanir Global Markets in Singapore, said: "Oil continues to rise as supply-side problems continue to escalate, although hawk central banks are fueling higher interest rates and a soft economic outlook. OPEC as Congo and Libya support Saudi Arabian views. "While there is momentum for production cuts, Kazakhstan has ongoing supply issues," he said.
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