India, Aug. 11 -- Oil traded lower on Monday after its biggest weekly drop since end-June amidst concerns about higher U.S. tariffs, OPEC's September output hike decision and rising ceasefire hopes in Ukraine.
Benchmark Brent crude futures fell half a percent to $66.24 in European trade, while WTI crude futures were down 0.6 percent at $63.52.
Traders eagerly looked forward to U.S. President Trump's scheduled meeting with Russian President Vladimir V. Putin on Friday in Alaska to assess potential tariff moves by Trump on India and China.
Trump suggested that a potential agreement to end the more than three-year old conflict in Ukraine could see the swapping of territory by both sides.
Ukraine President Volodymyr Zelenskyy accused Putin ...