Written by: Fatima Younes
Oil prices saw a decline in early Asian trading on Monday, following the decision by U.S. President Donald Trump to lift sanctions and tariffs imposed on Russia, a move that paves the way for a potential increase in Russian fuel exports to global markets.
Decline in Brent and West Texas Contracts
Brent crude futures fell by $1.06, or 0.96%, to reach $108.80 per barrel by 22:14 GMT. This decline came after the crude ended last Friday's trading at its highest level since May 19.
In the same context, U.S. West Texas Intermediate crude recorded $101.18 per barrel, marking a decrease of 23 cents, or 0.23%, in early trading.
