Oil stable near $100 a barrel as dollar weakens

Oil prices were stable on Monday, close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China's stringent COVID containment approach.

Brent crude futures were down 1 cent, or 0.1%, to $98.56 a barrel at 1444 GMT. U.S. West Texas Intermediate crude rose by 4 cents, or 0.04%, to $92.65.

Both contracts dropped by more than $1 a barrel earlier in the session after Chinese health officials at the weekend reiterated their commitment to strict COVID containment measures, dashing hopes of a rebound in oil demand from the world's top crude importer.