Oil prices fall on Monday

Oil prices slipped on Monday as civil unrest in Iran cooled, easing fears of a potential US military strike that could have disrupted exports from the major Middle Eastern producer. Brent crude traded around $63.85 a barrel, down modestly from the previous session, while US West Texas Intermediate (WTI) was near $59.10 a barrel.

The sharp, violent crackdown on protests in Iran appeared to quell widespread unrest and reduce the odds of US intervention, a key factor that had driven prices to multi-week highs the previous week.

Market sentiment was also weighed down by a larger‑than‑expected build in US crude inventories, reinforcing bearish supply pressure, and uncertainty about how quickly Venezuela’s output might expand under new US licensing moves. China’s refinery throughput and crude production hit record levels in 2025, adding to supply‑side signals.

Analysts expect range‑bound trading near current levels as geopolitical risk premiums fade and mixed global supply data drive investor caution.

Attribution: Reuters