SINGAPORE: Oil prices slipped on Tuesday as market participants contemplated possible three-way talks involving Moscow, Kyiv and Washington to end the war in Ukraine, which would likely lead to the lifting of sanctions on Russian crude.
Brent crude futures fell 32 cents, or 0.5 percent, to $66.28 a barrel by 9:50 a.m. Saudi time. US West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, fell 32 cents, or 0.5 percent, to $63.10 per barrel.
The more active October WTI contract was down 30 cents, or 0.5 percent, at $62.40 a barrel.
Prices settled around 1 percent higher in the previous session.
Following talks with Ukraine President Volodymyr Zelensky and a group of European allies in the White House on Monday, US President Donald Trump said in a social media post he had called his Russian counterpart Vladimir Putin and begun arranging a meeting between Putin and Zelensky, to be followed by a trilateral summit among the three presidents.
