Oil Prices Subdued As US, Iran Resume Talks

(RTTNews) - Oil prices were little changed on Monday as investors weighed prospects of OPEC+ supply increases and awaited upcoming U.S.-Iran talks aimed at de-escalating tensions.

Benchmark Brent crude futures slipped 0.2 percent to $67.65 a barrel, while WTI crude futures were down 0.2 percent at $62.65.

Due to Presidents' Day holiday in the United States, there will be no official settlement for WTI today.

Both contracts posted modest losses last week after U.S. President Donald Trump said he expects a nuclear deal with Iran to materialize within the next month.

The two countries will hold a second round of talks over Tehran's nuclear program this week, with Israeli Prime Minister Benjamin Netanyahu urging Trump to demand Iran dismantle its nuclear infrastructure.

Ahead of the talks taking place on Tuesday in Geneva, Iran's Deputy Foreign Minister Majid Takht-Ravanchi told the BBC in an interview that the country is ready to consider compromises to reach a nuclear deal with the United States in return for the lifting of sanctions.

Meanwhile, media reports suggest the OPEC+ alliance is considering "resuming output increases" starting in April.

No decision has yet been ?made and talks will continue in the weeks ahead of the meeting on March 1, it was said.