By Helen Clark

PERTH (Reuters) -Oil prices slipped Monday, extending losses from last week, as Russia-Ukraine peace talks edged closer to a solution and the U.S. dollar strengthened.

Brent crude futures fell 14 cents, or 0.22%, to $62.42 per barrel at 0148 GMT. West Texas Intermediate was down 15 cents, or 0.26%, at $57.91 a barrel.

Both crude benchmarks were down about 3% last week and hit their lowest settlements since October 21, as market participants worried that a Russia-Ukraine peace deal could lift sanctions on Moscow and flood the market with previously sanctioned supply.

“The sell-off was triggered mainly by President Trump’s forceful push for a Russia-Ukraine peace deal, which markets see as a fast track to unlocking substantial Russian supply,” IG analyst Tony Sycamore wrot

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