Representative Image Oil prices slipped on Monday, easing off five-week highs, as the market took profits following strong gains last week on expectations of tighter supplies following OPEC+ cuts and ahead of the European Union embargo on Russian oil. Brent crude futures fell 81 cents, or 0.8%, to $97.11 a barrel by 0131 GMT while West Texas Intermediate crude was at $91.88 a barrel, down 76 cents, or 0.8%. "The cut is clearly bullish," ING analysts said in a note. Analysts at banks and brokerages have raised their crude price forecasts and expect Brent to rise above $100 a barrel in the coming months. On Friday, Russian President Vladimir Putin signed a decree to create a new operator for the Exxon Mobil Corp-led Sakhalin-1 oil and gas project in Russia's Far East. Source - Money Control