Brent climbs towards $84 on Ukraine tensions

Brent crude rose towards $84 a barrel on Monday, climbing for a second straight session amid heightened military activity in Ukraine and as chaos in Libya again threatened disruptions to the country's oil output and exports.

A slew of weak economic data from China offered further evidence the world's second largest economy was cooling, opening the door for Beijing to implement stimulus measures that could spark demand in what is also the world's No 2 oil consumer.

The dollar nudged lower but remained close to a four-year peak on Monday, helping to cap oil markets.

The market was also keeping an eye on the ongoing political turmoil in Libya, where the El Feel and El Sharara oilfields have been shut and exports from Libya's 120,000 barrel per day Hariga oil port were blocked on Saturday.

Brent crude for December delivery rose 34 cents to $83.73 a barrel by 0439 GMT after gaining 53 cents in the previous session. The benchmark fell three per cent last week, for the seventh straight week, the longest such stretch since late 2002. US crude climbed 25 cents to $78.90 per barrel after settling 74 cents higher in the previous session.

Opec ministers will meet on November 27 and are likely to discuss how to react to the slide in oil markets.