Oil prices fell on Monday as investors weighed the impact of the dramatic events in Venezuela over the weekend.

Brent crude for March delivery was trading on the London-based ICE Futures exchange at $60.50 a barrel, down $0.25 (0.41%) from its previous close. These contracts had fallen $0.10 (0.16%) to $60.75 a barrel on Friday.

February WTI crude oil futures for delivery fell on the New York Mercantile Exchange (NYMEX) $0.30 (0.52%) to $57.02 a barrel in online trading. In the previous session, their price had dropped $0.10 (0.17%) to $57.32 a barrel.