05:38 AM EST, 11/24/2025 (MT Newswires) -- Crude oil prices eased on Monday as the U.S. and Ukraine are set to renegotiate a peace deal, which could add more supply to the market as sanctions on Russia are walked back.

Brent crude at last look lost 0.7% to US$62.11/barrel and West Texas Intermediate crude fell 0.8% to $57.63/b. The U.S. and Ukraine are set to resume work on a revised plan after critics said the current was too favorable to Moscow, Reuters said in a Monday report.

The move offset the near-term supply disruption resulting from sanctions on Rosneft and Lukoil, Russia's two largest oil companies, analysts said. The sanctions have stranded almost 48 million barrels of Russian crude at sea, Reuters reported.

Uncertainty about U.S. interest rate cuts are also weighing on market sentiment, but the possibility of a rate cut next month increased as New York Federal Reserve President John Williams suggested a cut in the near term, the report said.