West Texas Intermediate futures for December delivery advanced to $40.96 (+0.54%), while Brent crude climbed to $44.79 (+0.72%) as France launched air strikes in Syria after multiple terrorist attacks in Paris on Friday night.

Nevertheless analysts expect these moderate gains to be short-lived as oversupply persists and fundamentals remain bearish.

On Friday data from Baker Hughes surprised markets with the first increase in operating rigs in the U.S. in 11 weeks. The rig count rose by 2 to 574.