UPDATE 10-Oil mixed on crude demand fears and U.S.-Iran tensions

* Trump imposes new U.S. sanctions on Iran
* Hopes wane for U.S.-China trade breakthrough
* OPEC+ expected to extend oil output curbs
* Russian minister voices concerns about demand

(Updates prices and market activity to settlement)
By Laila Kearney
NEW YORK, June 24 (Reuters) - Oil prices were mixed on
Monday as market concerns about the possibility of a conflict
between the United States and Iran eased, while worries about
declining crude demand resurfaced.
Benchmark Brent crude futures LCOc1 settled at $64.86 a
barrel, losing 34 cents, or 0.5%. U.S. crude futures CLc1
settled at $57.90 a barrel, rising 47 cents, or 0.8%.
Last week, Brent climbed 5% and U.S. crude surged 10% after
Iran shot down a U.S. drone on Thursday in the Gulf, adding to
tensions stoked by attacks on oil tankers in the area in May and
June that Washington has blamed on Iran, which denies having any
role in the attacks.
U.S. President Donald Trump imposed new sanctions on Iran on
Monday. Trump on Friday, however, called off a retaliatory
attack on the Middle East nation at the last minute after the
drone was downed, limiting oil price gains.
"I think some of the risk premium that got built in because
of U.S. tensions with Iran is easing a bit," said John Kilduff,
a partner at Again Capital Management in New York. "I think
we're also starting to see the economic concerns and demand
concerns re-emerge for the market."
Hopes are waning for progress in Sino-U.S. trade talks at
this week's G20 meeting as investors await a meeting between
Presidents Donald Trump and Xi Jinping. "The most important factor weighing on the oil price of late
was the fear of a massive slowdown in demand growth, especially
in view of the trade conflict between the US and China,"
Commerzbank said in a note. "We do not expect any agreement to
be reached during the meeting between Presidents Trump and Xi
during the G20 summit at the end of the week."
Weak manufacturing data released on Monday by the Federal
Reserve Bank of Dallas added to worries about slipping demand
for crude oil. Supply is expected to remain relatively tight, as the
Organization of the Petroleum Exporting Countries and its allies
including Russia, an alliance known as OPEC+, appear likely to
extend a deal on curbing output when they meet on July 1-2 in
Vienna, analysts said.
Russian Energy Minister Alexander Novak said on Monday that
international cooperation on crude production had helped
stabilize oil markets and was more important than ever. He also
voiced concerns about demand. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
TECHNICALS-U.S. oil still targets $58.19-$58.84 range
L4N23V0M4
TECHNICALS-Brent oil still targets $66.43-$68.07 range
L4N23V0JA
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