Oil rose on Monday, pushed by reports that an OPEC-led supply cut may not just be extended into 2018 but might be deepened to tighten the market and prop up prices.
Brent crude futures were up 32 cents, or 0.6 percent, from their last close at $53.93 per barrel at 0643 GMT.
U.S. West Texas Intermediate (WTI) crude futures were back above $50 per barrel, trading up 29 cents, or 0.6 percent, at $50.62.
Both benchmarks have climbed more than 10 percent from their May lows earlier this month.
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