Oil prices rose in European trade for a second session off six-week lows ahead of the G7 talks, which might lead to new sanctions on Russia.
Prices are also boosted by the decline in dollar against major rivals, underpinning dollar-denominated commodities.
Global Oil Prices
US crude rose 1.2% to $108.78 a barrel, while Brent surged 1.25% to $114.15 a barrel.
US crude rose 3.4% on Friday, the first profit in four days off six-week lows at $101.56, as Brent rose 2.5%, the first profit in three days off May 19 lows at $107.06.
Oil prices lost an average of 1.5% last week, the third weekly decline in a row on concerns about lower demand in the US.
G7
G7 countries are convening soon, and will probably impose new sanctions on Russia to punish it for its ongoing invasion of Ukraine.
G7 leaders will also discuss reviving the Iranian nuclear deal, which will open the way for Iranian oil exports to the global market.
OPEC Plus
OPEC Plus countries are expected to commit to a production hike in August when they convene on Thursday according to sources.
The Dollar
The dollar index fell 0.3% on Monday for another session, marking a two-week low at 103.8 against a basket of major rivals.
Dollar is declining as US treasury yields tumbled to two-week lows, hurting demand on the greenback.