Oil prices were sliding, with Brent crude and WTI both down 0.1% at $74.01 a barrel and $70.35 a barrel, respectively. Oil is under increasing downward pressure as sentiment sours, ING analysts said in a note.

Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq. Brent futures were down 6 cents,

Oil prices slipped in Asian trading on Monday, extending last weeks losses as weak U.S. economic data fueled concerns over slowing demand. Brent crude fell 0.3% to $74.24 per barrel, while WTI declined 0.