Dhaka, May 19 -- Oil prices slipped on Monday, weighed down by Moody's downgrade of the US sovereign credit rating and official data that showed a slow down in the pace of China's industrial output and retail sales.

Front-month Brent crude futures edged down 35 cents, or 0.5 per cent, to $65.06 a barrel by 0440 GMT while US West Texas Intermediate crude dropped 26 cents, or 0.4 per cent, to $62.23 a barrel. The front-month June WTI contract expires on Tuesday and the more-active July contract fell 31 cents, or 0.5 per cent, to $61.66 a barrel, according to Reuters.

Both contracts rose more than 1.0 per cent last week after the US and China, the world's two biggest economies and oil consumers, agreed to a 90-day pause on their trade war ...