Oil prices declined on Monday, following statements by US President Donald Trump in which he expressed optimism about the possibility of reaching an agreement with Iran, which eased fears about the possibility of a conflict between the two countries.
West Texas Intermediate crude oil recorded a decline of 3.4%, reaching $62.99, while the price of Brent crude oil fell by 3.2%, recording $67.09 in early trading in Asia.
This drop in oil prices comes after President Trump said at the beginning of the week that Iran is “holding serious talks” with Washington, which indicates an easing of tensions with the OPEC member state, especially after expectations of a military strike against it led to prices rising to their highest levels in several months.
Trump has repeatedly threatened Iran with intervention if it does not agree to the nuclear agreement or if it does not stop the killing of demonstrators.
