Oil prices dipped on Monday after US President Donald Trump appeared to play down reports of an imminent lifting of tariffs in a protracted US-Chinese trade war.
Brent crude was down 48 cents at $62.03 by 1311 GMT. The contract gained 1.3% last week.
US crude was 59 cents lower at $56.65 a barrel, having risen 1.9% last week.
Trump said on Saturday that trade talks with China were moving along "very nicely" but the United States would only make a deal if it was the right one for America.
Trump also said there.