Brent drops to $66.2 per barrel

Oil prices continued to decline on Monday, following last week’s steepest drop since early June.

According to Interfax, cited by Report, market attention is currently focused on the announced meeting between the presidents of the United States and Russia in Alaska, which is expected to potentially pave the way for a settlement of the conflict in Ukraine.

As of 09:25 Baku time, October futures for Brent crude on the London ICE Futures exchange were down $0.39 (0.59%) at $66.2 per barrel. On Friday, Brent had risen by $0.16 (0.24%) to $66.59 per barrel.

September WTI futures on the New York Mercantile Exchange (NYMEX) were down $0.50 (0.78%) to $63.38 per barrel. In the previous session, the contracts remained unchanged at $63.88 per barrel.

Over the past week, Brent lost 4.4% in value, while WTI fell by 5.1%.