Oil prices fall 4% on signs of easing tensions between US, Iran

Oil prices fell more than 4% on Monday on signs of easing tensions in US-Iran relations, Report informs referring to trading data.

April Brent crude futures fell $3.31 (4.77%) to $66.01 per barrel on the London ICE Futures Exchange.

March WTI crude futures fell $3.21 (4.92%) to $62 per barrel on the New York Mercantile Exchange (NYMEX).

Over the weekend, US President Donald Trump stated that Iran is serious about negotiating contentious issues with the US. This eased investor fears surrounding the possibility of Washington striking Iran. Trump had previously repeatedly threatened to intervene if Tehran did not agree to the nuclear deal or continued to violently suppress protests.