Market focuses on geopolitical risks as crude oil rises during holiday trading.

Brent oil prices hovered around $68 per barrel, still within the range of $65 to $70 over the past month. India pushed back against the US pressure to stop importing crude oil from Russia. Ukraine attacked more Russian refineries over the weekend, escalating attacks on the country's infrastructure. Global benchmark crude prices have fallen by about 10% this year, due to concerns about OPEC+ additional supply and the impact of the US trade war on energy demand. In the short term, US inventories fell last week, while OPEC+ will hold a video conference on September 7 to discuss the next steps in supply measures. The October contract for West Texas Intermediate crude oil rose 0.9% on Monday, settling at $64.61 per barrel, while the November settlement for Brent contracts rose slightly to $68.15 per barrel. The most actively traded Brent contract fell by more than 6% last month.