As supply concerns gain traction, oil prices were up slightly on Monday. On the other hand, recession worries continue to cap the black gold's gains.

At around 09:30 GMT (11:30 a.m. CET), a barrel of North Sea Brent crude for November delivery was up 1.11 percent at $93.87. U.S. West Texas Intermediate (WTI) for October delivery was up 0.92 percent at $87.59.

Russian gas deliveries to Europe via the Nord Stream 1 pipeline are still suspended, stoking fears of winter shortages. On Wednesday, Russia warned that it would no longer deliver oil or gas to countries that would cap the prices of hydrocarbons sold by Moscow, as the West works on such a measure.

Earlier last week, members of the Organization of the Petroleum Exporting Countries and their allies (Opec+) agreed to cut their total production volume by 100,000 barrels per day.