U.S. West Texas Intermediate crude futures traded at $76.68 a barrel at 0950 GMT, while Brent crude futures were up 34 cents at $83.50
Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains.
Russian oil pipeline monopoly Transneft attributed the shut-off to lack of completed paperwork for supplies in the second half of February. Meanwhile, the dollar hovered near a seven-week peak on Monday after a slew of strong U.S. economic data reinforced the view that the Federal Reserve will have to raise interest rates further and for longer.
Fears of a hawkish Fed returned to the fore after data on Friday showed the U.S. personal consumption expenditures price index shot up 0.6 per cent last month after gaining 0.2 per cent in December.
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