Experimental results are reported for a U-shaped, free convection loop. The top of the loop is open to an isothermal reservoir. The horizontal leg and one vertical leg are heated at rates Q1 and Q2, respectively. The loop is filled either with water or a watersaturated porous medium. Symmetric heating and asymmetric heating favouring the ascending leg of the loop both yield stable flows. Asymmetric heating favouring the descending leg leads to stable flows when the ratio Q1/Q2 is above a critical value. Below this critical value, the flow is observed to oscillate with increasing amplitude until the direction of flow in the loop undergoes a reversal. A steady flow follows the reversal. Analytical results include a stability analysis and time-dependent, one-dimensional numerical calculations, both of which compare favourably with experiment.