Oil prices rose on Tuesday amid weakening US dollar.
Report informs that Brent crude for January delivery rose 0.8%, to $93.5 a barrel.
US West Texas Intermediate (WTI) crude rose 0.62%, to $87.07 a barrel.
The Brent and WTI benchmarks both ended October higher, their first monthly gains since May, after the Organization of the Petroleum Exporting Countries and allies including Russia said they would cut output by 2 million barrels per day (bpd).
The dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 0.21% to 111.3 points. A depreciating dollar has traditionally boosted demand for commodities, including oil, by making them more affordable to buy in other currencies.
Investors also expect statistics on oil reserves in the US, which will be released on Wednesday. Analysts suggest that commercial oil reserves in the country (excluding the strategic reserve) rose by 0.27 million barrels, while gasoline stocks fell by 1.2 million barrels.