Oil Prices Gained on Venezuela and Exxon's Row

Oil inched to $95 a barrel on Monday, as investors weighed the effects of a slowing U.S. economy against an escalating row between OPEC member Venezuela and oil major Exxon Mobil.

U.S. light crude for March delivery rose 16 cents to $95.66 a barrel by 1:09 a.m. EST. Oil closed 4 cents higher at $95.50 on Friday, after touching a one-month high of $96.67.

London Brent crude rose 26 cents to $94.89.