Oil prices ease on Ukraine peace talks

Brent futures fell 51 cents, or 0.7%, to settle at US$70.56 a barrel, while US West Texas Intermediate (WTI) crude fell 68 cents, or 1.0%, to settle at US$66.90.

NEW YORK: Oil prices eased about 1% on Tuesday as US President Donald Trump and Russian President Vladimir Putin discussed moves to end the three-year-old war in Ukraine, which could result in a possible easing of sanctions on Russian fuel exports.

Putin agreed to Trump's proposal that Russia and Ukraine cease attacking each other's energy infrastructure for 30 days.