Prices rose due to positive statements regarding trade negotiations between the US and China.
International benchmark Brent crude increased by around 0.19%, trading at $66.35 per barrel at 10 a.m. local time (0700 GMT), down from $66.22 at the previous session's close.
Similarly, US benchmark West Texas Intermediate (WTI) increased by about 0.15%, settling at $63.95 per barrel, compared to $63.85 in the prior session.
US Secretary of Commerce Howard Lutnick and China's International Trade Representative Li Qinggang announced that the two countries had agreed on a framework based on the Geneva trade agreement.
These statements raised expectations of an agreement between the world's two largest oil consumers, creating limited upward momentum in oil prices.
However, market participants remain cautious due to frequently changing policies, as they want to see a concrete agreement.
Details of the agreements reached during the negotiations are expected to be announced after they are approved by the leaders of both countries.
Meanwhile, the American Petroleum Institute (API) reported that US crude oil stocks fell by 370,000 barrels last week, contrary to expectations. Market expectations were for stocks to increase by 700,000 barrels.
The US Energy Information Administration (EIA) is expected to release official inventory data later today. If the drop is confirmed, the upward trend in prices is expected to continue.
By Humeyra Ayaz
Anadolu Agency