Global oil prices slipped again in early trading on Monday as markets reacted to signs of easing tensions between the United States and Iran.
According to data tracked by dinaropinions.com, Brent crude fell by 49 cents, or about 0.7%, settling at $67.56 a barrel. This came after prices had ended Friday’s session slightly higher.
Market watchers say the drop is linked to pledges from Washington and Tehran to keep talks going on the nuclear program. The continued diplomatic engagement has helped calm fears about potential disruptions to oil supplies from the Middle East.
As concerns about conflict affecting shipping routes and global crude flows eased, the geopolitical “risk premium” that had been pushing prices higher began to fade, putting downward pressure on oil prices.
