Oil prices fell today, Monday, continuing the losses sustained last week as peace talks between Russia and Ukraine edge closer to a resolution and the U.S. dollar strengthens.
Brent crude futures dropped by 14 cents, or 0.22 percent, to $62.42 a barrel by 01:48 GMT. West Texas Intermediate crude fell by 15 cents, or 0.26 percent, to $57.91 a barrel.
Both benchmark grades declined by about three percent last week, reaching their lowest levels since October 21, as market participants expressed concerns that a Russian-Ukrainian peace agreement could lift sanctions imposed on Moscow and flood the market with previously sanctioned supplies.
