Baghdad: Oil prices stabilized on Monday as traders monitored India’s purchases of Russian crude and Ukrainian attacks on Russian energy infrastructure. Brent crude traded below $64 a barrel after posting its first consecutive weekly gain since August, while West Texas Intermediate crude was near $60.

According to National Iraqi News Agency, Russian President Vladimir Putin pledged last week “uninterrupted fuel shipments” to India. This commitment is likely to be a key element in discussions as US negotiators arrive in the South Asian nation for trade talks. The stability in oil prices comes amidst heightened geopolitical tensions and evolving trade dynamics, which are closely being watched by global markets.