Asia markets surge as investors evaluate the Russia-Ukraine conflict's impact on oil prices.

• Over the weekend, Russia further advanced into Ukraine, resulting in clashes on the streets and troops surrounding Kyiv.
• In Asia trade, U.S. West Texas Intermediate crude futures increased by 6.06% to $97.14 per barrel.
• Last week, global markets were volatile due to Russia's invasion of Ukraine. Despite this, U.S. stocks rose before closing on Friday. However, futures are currently falling in overnight trade on Sunday.

On Monday, oil futures rose by approximately 4%, while shares in the Asia-Pacific region were mixed. Investors are closely monitoring the Russia-Ukraine conflict and the resulting sanctions.

U.S.  were 4.5% higher at $95.71 per barrel in Asia trade.

The international benchmark increased by 3.76% to $101.61, while Brent surpassed $100 and reached $105 before experiencing a decline. Both oil contracts ended more than 1% lower on Friday.

Last traded at $1,896.70, gold, traditionally a safe haven in times of uncertainty, rose 0.48% after giving up some gains.

In mainland China, markets rose, with the gaining 0.32% to close at 3,462.31 and the advancing 0.32% to 13,455.73. In Hong Kong, the dropped 0.67% in afternoon trade.

Despite earlier struggles, Japan's stock market finished the day with a 0.19% increase to 26,526.82, while the Topix index rose by 0.57% to 1,886.93.

In South Korea, the erased losses rose 0.84% to close at 2,699.18, while the Kosdaq advanced 0.93% to 881.07.

The  in Australia was up 0.73% at 7,049.1 after falling slightly.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped fractionally.

Elsewhere, Taiwan markets are closed for a holiday on Monday.

Last week, global markets were volatile due to Russia's invasion of Ukraine. Despite this, U.S. stocks rose before closing on Friday. However, futures were declining in overnight trade on Sunday.

Over the weekend, Russia further advanced into Ukraine, resulting in clashes on the streets and troops surrounding Kyiv.

Russia's invasion has led to the activation of its deterrence forces, which are reported to include nuclear capabilities, on high alert, as announced by President Putin on Sunday.

New sanctions and measures were announced by the U.S. and its allies to target Russia, including removing selected Russian banks from the interbank messaging system, SWIFT.

Many countries have also said they will close their airspace to Russian aircraft.

The Ukraine and Russian governments have agreed to meet at the Ukraine-Belarus border without any conditions, as stated by Ukraine's Defense Ministry. Belarus, which borders both Ukraine and Russia, has a close relationship with Moscow.

Currencies

The greenback was last at 97.189, up from 96.615, against a basket of its peers.

The strengthened slightly from 115.56, while the changed hands at $0.7201, down from $0.7232.