Oil Rises as Tight Market Looks to Russian-Western Diplomacy

A worker collects a crude oil sample at an oil well operated by Venezuela's state oil company PDVSA in Morichal, Venezuela, on July 28, 2011. Carlos Garcia Rawlins/Reuters

LONDON—Oil prices rose slightly on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel.

Brent crude futures rose 25 cents, or 0.3 percent, to $93.79 a barrel at 1000 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4 percent, to $91.42 a barrel.