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LONDON, Feb 24 (Reuters): 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 up 13 cents, or 0.2 per cent, at $74.56 barrel by 1103 GMT while US West Texas Intermediate crude futures added 11 cents, or 0.2 per cent, to $70.51.

Both Brent and WTI dropped by more than $2 on Friday, registering weekly declines of 0.4 per cent and 0.5 per cent respectively.

All eyes remain on efforts to end Russia's war on Ukraine, which enters its fourth year on Monday. Officials said on Sunday that European Union leaders will meet for an extraordinary summit on March 6 to discuss additional support for Ukraine and European security guarantees.

Ukrainian president Volodymyr Zelenskiy said on Sunday that he was willing to step down if it meant peace for his country.

US President Donald Trump has initiated talks with Russia without inviting Ukraine or the European Union to the table. A senior Russian diplomat said Russian and US teams plan to meet for further discussions this week.