Brent crude oil futures gained 21 cents, or 0.3%, to $68.96 a barrel by 0454 GMT, while US West Texas Intermediate (WTI) crude futures increased by 14 cents, or 0.2%, to $65.78 a barrel
In either case, oil is expected to retrace further over the next few days. Only a rise above $69.87 could confirm the continuation of the uptrend towards $71.38.
Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel.
"The wobble we have seen in prices means that OPEC+ will likely need to take a cautious approach once again," bank ING said. "We are of the view that the group will likely hold output levels unchanged."
The Saudi-led coalition fighting the Houthis in Yemen said early on Monday morning it had intercepted and destroyed an explosive-laden drone fired by the Houthis toward the kingdom.