Doha: Oil prices fell by more than 1 percent today at settlement. Brent crude futures fell 81 cents, or 1.22 percent, to settle at $65.79 a barrel, while US West Texas Intermediate (WTI) crude futures for September delivery fell $1.07, or 1.69 percent, to settle at $62.35 a barrel.

According to Qatar News Agency, this decline comes as the likelihood grows that talks aimed at ending the war in Ukraine will lead to the lifting of sanctions on Russian crude, increasing global supplies.