Ammon News - 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 53 cents, or 0.8%, to $66.07 a barrel by 0545 GMT. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, fell 44 cents, or 0.7%, to $62.98 per barrel.

The more active October WTI contract was down 55 cents, or 0.9%, at $62.15 a barrel.

Prices settled around 1% higher in the previous session.

Following talks with Ukraine President Volodymyr Zelenskiy and a group of European allies in the White House on Monday, U.S. 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 Zelenskiy, to be followed by a trilateral summit among the three presidents.

Zelenskiy described his direct talks with Trump as "very good" and said they had spoken about Ukraine's need for U.S. security guarantees. Trump confirmed the U.S. would help with such a guarantee, although to what extent was not immediately clear. Reuters