05:02 AM EDT, 08/11/2025 (MT Newswires) -- Crude oil prices declined on Monday ahead of expected talks between U.S. President Donald Trump and Russian President Vladimir Putin to negotiate an end to the war in Ukraine.

Brent crude at last look lost 0.6% to US$66.17/barrel and West Texas Intermediate crude fell 0.8% to US$63.39/b.

The meeting, to be held in Alaska, comes after Trump set a deadline for Russia to agree to a peace deal or face tighter penalties, including secondary sanctions on its oil buyers, Reuters said in a Monday report.

U.S. tariffs on its trade partners that took effect last week are also expected to affect economic activity, driven by changes to supply chains and higher inflation, the report said.