LONDON: Oil prices edged higher on Monday, after falling more than 4 percent last week, as investors looked ahead to talks this week between the US and Russia over the war in Ukraine.
Brent crude futures were up 37 cents, or 0.6 percent, at $66.96 a barrel by 3:18 p.m. Saudi time. US West Texas Intermediate crude futures rose 38 cents, also 0.6 percent, to $64.26.
US President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on Aug. 15 in Alaska to negotiate an end to the war in Ukraine.
The talks follow increased US pressure on Russia, raising the prospect that penalties on Moscow could be tightened if a peace deal is not reached.
Trump set a deadline of last Friday for Russia, which invaded Ukraine in February 2022, to agree to peace or have its oil buyers face secondary sanctions. At the same time, Washington is pressing India to reduce purchases of Russian oil.
