Oil prices fell at the start of trading on Monday after US President Donald Trump ruled out the possibility of launching new strikes on Iran, amid progress in negotiations aimed at ending the war. The decline came despite reports that cargo ships had come under attack in and around the Strait of Hormuz.
Brent crude fell 64 cents, or 0.64%, to $97.67 a barrel by 11:34 GMT, while US West Texas Intermediate (WTI) crude dropped 35 cents, or 0.40%, to $90.51 a barrel.
Brent crude had briefly fallen by more than $1 per barrel earlier in the session.
In a telephone interview with CNN, Trump said the possibility of launching new strikes was “very unlikely” as long as negotiations continued. He added that the decision would depend on whether Iran agreed to sign a “very strong” deal.
CNN did not specify the question it had asked Trump.
Source: Reuters
