Oil prices edged higher on Monday after Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted, while expectations of a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand.

A dramatic rise in Ukrainian attacks on Russian oil refineries has sent gasoline prices in Russia to record highs, despite the government banning petrol exports to cope with the crunch.

Russia has launched a rare drone and missile attack on western Ukraine, hitting an American-owned electronics plant among other targets and injecting further uncertainty into the U.S.-led efforts to e