WASHINGTON (dpa-AFX) - Oil prices were subdued on Monday as global leaders push for a diplomatic solution to Russia-Ukraine crisis. New reports on the progress in the Iran nuclear talks in Vienna also kept prices under pressure.
Benchmark Brent crude futures slipped 0.2 percent to $91.27 a barrel, while U.S. WTI crude futures were down 0.3 percent at $89.98.
Investors watched the latest developments in Ukraine as last-ditch diplomatic efforts continued to prevent what Western powers warn could be the imminent Russian invasion of Ukraine.
U.S. President Joe Biden and Russia President Vladimir Putin have accepted in principle a French proposal for a diplomatic summit on the Ukraine crisis. The meeting would occur only if Russia doesn't invade Ukraine.
Moscow continues to deny it plans to invade Ukraine and says it is already pulling troops back from areas near the border.
Meanwhile, talks in Vienna on reviving the 2015 nuclear deal between Iran and world powers have made 'significant progress', Iranian foreign ministry spokesman Saeed Khatibzadeh said.
Separately, Iran's top security official Ali Shamkhani said talks with European negotiators were ongoing and would continue.
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