U.S. oil fell by more than $1 per barrel on Monday, pressured by an unexpected fall in China's exports that stoked fears of a slowdown in the world's second largest economy.
Moderating temperatures that will cut the need for heating fuels also weighed on U.S. oil prices. U.S. ultra low-sulfur diesel futures, more commonly known as heating oil, were down 1.5 percent.
Oil on both sides of the Atlantic was pressured as traders unwound some of the risk premium associated with fears of an escalation in tensions in Crimea over the weekend. The crisis in Ukraine had pushed money managers to collect a record number of bullish bets in U.S. oil futures and options last week, U.S. government data showed on Friday.