Oil prices rose on Monday after fighting between Russia and Ukraine escalated over the weekend, but concern over weak fuel demand in China, the world's second-largest consumer, and expectations of a global oil surplus weighed on markets.
Brent crude futures rose 20 cents, or 0.3%, to $71.24 a barrel. U.S. West Texas Intermediate crude futures rose nine cents, or 0.1%, to $67.11 a barrel.
Brent and WTI crude prices fell more than 3 percent last week on weak data from China and after the International Energy Agency forecast global oil supply would exceed demand by more than one million barrels per day in 2025 even if cuts from the OPEC+ group remain in place.
