New Delhi, Feb. 3 -- Oil prices edged lower on Monday after rising more than $1 earlier in the session after the United States and Mexico announced a month-long pause on tariffs the U.S. had slapped on its southern neighbour.

U.S. President Donald Trump had imposed tariffs on Canada, Mexico and China to take effect from Tuesday, raising fears of supply disruption.

Brent crude futures were down 14 cents, or 0.2%, at $75.49 a barrel by 10:57 a.m. ET (1557 GMT), having earlier touched a peak of $77.34.

U.S. West Texas Intermediate crude futures were down 4 cents, or 0.01%, at $72.49 after climbing as much as 3.7% earlier in the session to reach their highest since Jan. 24 at $75.18.

U.S. President Donald Trump on Monday said he would pau...