Written by: Basant El-Farmawy
Oil prices witnessed a decline in early Asian trading on Monday, driven by expectations of increased Russian fuel exports to global markets.
The impact of US decisions on supplies
This decline came following the decision of US President Donald Trump to lift sanctions and customs duties imposed on Russia, a step that may contribute to boosting the flow of Russian fuel supplies to international markets.
Global crude price movements
Brent crude futures registered a decline of $1.06, equivalent to 0.96%, reaching $108.80 a barrel by 22:14 GMT, following last Friday's close at its highest level since May 19.
In a related context, US West Texas Intermediate crude recorded $101.18 a barrel, registering a decrease of 23 cents, or 0.23%.
