Muscat: Oil prices slipped today, extending last week's decline, on progress in Russia-Ukraine peace talks and a stronger US dollar. Brent crude futures declined 14 cents, or 0.22%, to $62.42 per barrel. West Texas Intermediate (WTI) futures slipped 15 cents, or 0.26%, to $57.91 per barrel.

According to Oman News Agency, both benchmarks dropped around 3% last week, their lowest levels since 21 October 2025, amid concerns that a potential peace agreement could pave the way for lifting sanctions on Moscow and returning previously sanctioned crude to global markets.