NEW YORK (Reuters) -Oil prices fell over 2% in volatile trading on Monday as the collapse of Silicon Valley Bank roiled equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support.

Brent crude futures settled down $2.01, or 2.4%, to $80.77. The global benchmark earlier fell to a session low of $78.34, its lowest price since early January.

U.S. stocks indexes also traded choppily as investors weighed a possible pause in interest rate hikes by the Federal Reserve in March. [.N]