Brent futures rose 8 cents, or 0.1%, to $83.44 a barrel by 1:51 p.m. EDT (1751 GMT), while U.S. West Texas Intermediate (WTI) crude fell 22 cents, or 0.3%, to $78.83.
Brent crude futures rose 95 cents, or 1.2% to $84.42 a barrel by 12:46 p.m. ET (1646 GMT). U.S. West Texas Intermediate crude (WTI) was up $1.23, or 1.6% at $80.60 a barrel.
Brent futures rose $1.18, or 1.4%, to $87.30 a barrel by 11:42 a.m. EST (1642 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.12, or 1.4%, to $81.27.
West Texas Intermediate fell as much as 4.4% with Brent dropping below $100 a barrel.
The West Texas Intermediate crude, plummeted by 8 percent, or $8.67, as it dropped to $99.76 per barrel.
OPEC president Emmanuel Ibe Kachikwu said today that he expects an extraordinary meeting of the oil cartel in "early March" to address nosediving crude prices.
Prices rallied briefly after Saudi Arabia said in a statement the kingdom remained ready to work with other producing and exporting countries to stabilize prices.
Both main crude contracts have rallied since hitting six-year lows in late August, with last week seeing healthy rallies in line with global equities on easing expectations the US Federal Reserve will hike borrowing costs this year, pushing the dollar lower. A softer dollar makes dollar-priced oil cheaper, spurring demand.
US benchmark West Texas Intermediate (WTI) for April delivery was down eight cents to USD 43.80 in late morning trade, the lowest since March 2009. Brent crude for May, a new contract, rose 27 cents to USD 54.21.
The latest heavy falls were sparked by worries over the ongoing global crude supply glut, and came after US investment bank Goldman Sachs cut its price outlook.
The stimulus is not translating into demand for crude or we are just producing too much of it in lieu of some unforeseen concern that we might have in the Middle East.