Oil prices posted gains of over 4% at the start of the week as they continued to benefit from production cuts helped by the conflict in Libya.
Last week, the main producer in the Organization of the Petroleum Exporting Countries (OPEC), Saudi Arabia raised the possibility of cutting production to curb uncertainty in the market.
OPEC and its allies, including Russia's so-called OPEC+, will meet to set production policy on September 5.
Brent crude oil futures edged higher on Tuesday to trade at $104 a barrel, while US WTI traded higher at $96 a barrel.
Meanwhile, unrest in Libya's capital over the weekend has raised fears that the country will plunge further into full-scale conflict and disrupt oil supplies from the OPEC member.
In the meantime, investors are now awaiting the release of the United States crude oil supply report from the American Petroleum Institute (API) which is expected to show a fall of 600,000 barrels last week.
