Doha: Oil prices rose slightly on monday as investors grew more confident about a us interest rate cut:il prices rose slightly on Monday as investors grew more confident about a US interest rate cut, amid the possibility of a peace agreement between Russia and Ukraine to end their war. Brent crude futures rose 22 cents, or 0.4 percent, to $62.78 a barrel, while West Texas Intermediate crude climbed 31 cents, or 0.5 percent, to $58.37 a barrel. Both benchmark crudes had closed last Friday at their lowest levels since October 21.

According to Qatar News Agency, the increase in oil prices comes as market participants anticipate a potential easing of monetary policy in the US, which could stimulate economic activity and increase oil demand. Additionally, the ongoing discussions between Russia and Ukraine have raised hopes for a peaceful resolution, potentially stabilizing global markets and contributing to the positive sentiment among investors.