Oil prices fell on Monday on expectations that U.S. production could rise and as weaker economic data out of China and the country’s widening COVID-19 curbs weighed on demand. “The purchasing managers’ index (PMI) data contracting adds to the post-China congress party blues for oil markets. It is not difficult to draw a straight line from weaker PMIs to China’s COVID-zero policy,” said Stephen Innes, managing partner of SPI Asset Management. Both benchmarks notched their first monthly gains since May as of today’s close. WTI traded down $1.37 or -1.6% to close at $86.53. Brent traded down $.94 or -0.98% to close at $94.83.