Oil futures slipped to around $77 per barrel on Monday, weighed by speculation of potential shifts in U.S. sanctions on Russian oil as the Trump administration takes charge. Markets are closely watching President-elect Donald Trump's inauguration, with a sharp focus on his approach to the Russia-Ukraine conflict, including possible energy sector concessions in exchange for peace. Despite the U.S. markets being closed for Martin Luther King Jr. Day, trading saw some resilience as a softer U.S. dollar provided support, curbing deeper losses. The dollar weakened against major currencies as traders braced for policy updates under Trump's leadership. Last week, crude prices gained over 1 percent, buoyed by supply disruption fears linked to U.S. sanctions on Russia and hopes for U.S. interest rate cuts amid easing inflation signals. On the domestic front, MCX oil dropped by 19 rupees, settling at 6701 per barrel.

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