Oil prices softened during early Asian trading on Monday as concerns about weaker demand from China, the largest oil importer, dampened market sentiment. Meanwhile, investors are keeping an eye on the progress of ceasefire negotiations in the Middle East, which might alleviate supply risks.
Brent crude futures fell by 13 cents, or 0.2%, to $79.55 per barrel as of 0032 GMT. Similarly, U.S. West Texas Intermediate crude futures decreased by 13 cents, or 0.2%, to $76.52 per barrel.
