Ammon News - Oil prices fell in Asian trade on Monday, extending declines of more than 4% last week as investors awaited the outcome of talks between the U.S. and Russia later this week on the war in Ukraine.

Brent crude futures fell 33 cents, or 0.5%, to $66.26 a barrel by 0430 GMT, while U.S. West Texas Intermediate crude futures were down 39 cents at $63.49.

Expectations have risen for a potential end to sanctions that have limited the supply of Russian oil to international markets, after U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine.

Dragged down by the gloomy economic outlook, Brent fell 4.4% over the week ended Friday, while WTI dropped 5.1%. Reuters