Oil rose above $94 a barrel as crude recoups some of last week's sharp decline.
In afternoon trading on the New York Mercantile Exchange, benchmark oil for May delivery was up 98 cents to $94.34 a barrel.
The contract rose 66 cents to finish at $93.36 a barrel yesterday. That followed a decline of $4.53, or 4.7%, last week.
Oil moved higher late in the morning, as US stocks rose and the dollar fell.
The euro rose to $1.3089 against the dollar, compared with $1.3007 yesterday. A weaker dollar makes crude less expensive and more attractive to traders using other currencies.
Oil investors are waiting for fresh information on US stockpiles of crude and refined products.
Data for the week ending April 5 is expected to show an increase of 1.4 million barrels in crude oil stockpiles and a draw of 1.8 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
The American Petroleum Institute will release its report on oil stocks later, while the report from the Energy Department's Energy Information Administration - the market benchmark - will be out on Wednesday.
Brent crude, which sets the price of oil used by many US refineries to make gasoline, was up 86 cents to $105.63 per barrel on the ICE Futures exchange in London.
