LONDON, Feb 16 (Reuters): Oil prices were little changed on Monday, with investors weighing the market implications of upcoming US-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases. Brent crude futures edged down 9 cents, or 0.1 per cent, to $67.84 a barrel by 1157 GMT.
US West Texas Intermediate crude was at $62.93 a barrel, down 4 cents. Activity in global financial markets is expected to be muted on Monday with China, South Korea and Taiwan closed for Lunar New Year holidays, in addition to Presidents' Day in the United States.
Last week, both benchmarks posted weekly declines with Brent settling about 0.5 per cent lower and WTI losing 1 per cent after comments from US President Donald Trump that Washington could make a deal with Tehran over the next month.
The two countries are due to hold a second round of talks in Geneva on Tuesday over Tehran's nuclear programme.
Iran is pursuing a nuclear agreement with the US that delivers economic benefits for both sides, with energy and mining investments and aircraft purchases up for discussion, an Iranian diplomat was reported as saying.
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