Oil prices fell in Asian trade Monday, reversing some of the gains made late last week amid concerns the latest rally in the oil and commodities markets would be difficult to sustain. Investors are bracing for another week of volatile trading, with a focus on China as well as the timing of a U.S. interest-rate increase. Oversupply concerns also remain persistent as seasonal summer demand for oil fades and oil refineries slow operations. On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $44.36 a barrel at 0351 GMT, down $0.86 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange fell $1.03 to $49.02 a barrel. In highly volatile trading Nymex crude and Brent crude gained 11.8% and 10.1%, respectively last week. In the same week, oil prices had slipped to multiyear lows, but clawed back gains to rise 16%-17% over the final two trading sessions. On Monday, oil took cues from a softer start by Asian markets, with the Shanghai Composite Index down around 2% after Beijing placed a 16 trillion yuan ($2.506 trillion) cap on local government debt over the weekend, the latest move to address a slowing economy.