SINGORE, - Oil prices slipped on Monday on expectations of more Russian supplies after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other's energy facilities following a US diesel-supply deal with Moscow.
Brent crude futures fell $1.37, or 1.31%, to $103.35 a barrel by 0037 GMT while US West Texas Intermediate crude was at $90.55 a barrel, down $1.30, or 1.42%.
President Trump unexpectedly announced on Sunday that Ukraine and Russia had agreed to an energy ceasefire following an announcement on Friday of a diesel-supply deal with Russia. Ukrainian leader Volodymyr Zelenskiy said he was still waiting to see details of the deal while Russia did not comment.
The announcements eased some of the immediate supply pressure, Tim Waterer, KCM Trade chief analyst, said.
"Questions remain over the validity and longevity of any such ceasefire, and without clearer evidence that it will actually hold, the extent of the pullback is likely to stay limited," he added.