Oil erased an earlier decline after Iran's supreme leader expressed skepticsim over talks with the US.
Brent briefly jumped to touch $66, before erasing gains to trade little changed.
Ayatollah Ali Khamenei said in a speech that his country doesn't know what will happen in talks with the US over the country's nuclear deal, but that he doesn't think they will yield a result.
Oil prices swung sharply last week on a host of headlines around talks with the US focusing around the Iran's nuclear program. Tehran said its ability to enrich uranium was “absolutely non-negotiable,” a key US demand. A nuclear deal could pave the way for an easing of sanctions, including on oil exports.
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Crude has rebounded this month, after sliding almost 16% in April, following an easing in the trade war between the US and China that boosted risk sentiment. However, any indication of a reduction of sanctions on Russia, or fellow OPEC+ producer Iran, could potentially add more barrels to a global market that is already facing a glut this year.
Prices:
Brent for July settlement dropped was steady at $65.38 a barrel as of 9:21 a.m. in London.
WTI for July delivery trade at $62.02
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