The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats.

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The EU tariffs would target industrial goods, including Boeing Co. aircraft, U.S.-made cars, and bourbon whiskey.

Oil prices were little changed on Monday, following its first weekly drop this month, with traders focused on the EU's efforts to curb Russian energy exports. Homayoun Falakshahi from Kpler told Reuters that the latest package of sanctions may be 'tough and ambitious',

Benchmark Brent crude prices fell 0.3% at $69.36 per barrel, while U.S. West Texas Intermediate crude prices slipped 0.3% at $65.86 per barrel at 4.24 ET.

On Monday, oil prices remained relatively unchanged as markets anticipated that the recent European Union sanctions would have only a minimal effect on Russian oil exports. By 0800 GMT, Brent crude futures had slipped 12 cents,