Oil Prices Ease, Russia, Iran Tensions Check Losses

OIL PRICE - SINGAPORE. Oil prices slipped on Monday following 6% gains last week, but supply worries amid mounting tensions between Western powers and major oil producers Russia and Iran kept a floor under prices.

Brent crude futures fell 43 cents, or 0.57%, to $74.74 a barrel by 0705 GMT, while U.S. West Texas Intermediate crude futures were at $70.73 a barrel, down 51 cents, or 0.73%.