Oil prices declined today, Monday, after rising for four weeks, as the possibility of reaching a ceasefire agreement in Gaza led to calming geopolitical tensions in the Middle East, while investors evaluated the possibility of disruption of US energy supplies due to tropical storm Beryl.
By 02:34 GMT, Brent crude futures fell 12 cents, 0.1%, to $86.42 per barrel, while US West Texas Intermediate crude fell 28 cents, 0.3%, to $82.88 per barrel.
Investors were also anticipating any impact on geopolitical and energy policies from the elections in Britain, France and Iran last week.
Source: National Iraqi News Agency