US oil prices lift off multiyear lows

Oil prices erased early losses Monday after falling near their financial-crisis lows.

Brent crude dropped to a low of $36.33 a barrel, below a close its close of $36.61 set in December 2008. However, it rebounded to $37.92 a barrel by day's end. Brent has fallen for seven straight sessions, marking the longest losing streak since July 2014.

The U.S. benchmark settled up 69 cents, or 1.9 percent, at $36.31 a barrel, after falling to as low as $34.53 a barrel.

Read more from The Wall Street Journal.