Crude prices extended gains in Asia on Monday after the US benchmark WTI and Global indicator North Sea Brent rallied. Despite weaker demand from China, investors expect an oil shortage as wildfires ravage Canada's major oil sands deposits. 

The fires have forced local oil producers to cut output by one million barrels a day. Crude traders also believe Saudi Arabia's new oil minister will shift the country away from crude dependency, which may translate into less oil production.