U.S. crude remained above its 2009 low and settled up a penny a barrel as traders squared positions ahead of the January contract's expiration. The February contract declined and analysts expect stockpiles to build again this week, signaling further oversupply in already glutted market.

Concerns about swelling global crude supply and slow demand sparked by economic weakness in China have been recurring themes during this year's rout. Analysts said the market was still testing for a bottom.

"The key in finding the bottom of the market comes in a tightening of the supply side," said Gene McGillian, senior analyst at Tradition Energy in Stamford, Connecticut.