April 29 (Reuters) - Oil prices lost more than $1 a barrel on Monday as Israel ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while U.S. inflation data dimmed the prospect of imminent interest rate cuts.

Brent crude futures for June settled at $88.40 a barrel, falling $1.10, or 1.2%. The more active July contract ended at $87.20, losing $1.01 a barrel.

U.S. West Texas Intermediate (WTI) futures settled at $82.63 a barrel, falling $1.22, or 1.5%.

Israeli airstrikes killed at least 25 Palestinians and wounded many others on Monday, as Hamas leaders arrived in Cairo for a new round of talks with Egyptian and Qatari mediators.


Click Here For More