Oil prices declined as Iran-Israel tensions subside, higher US outputs
According to the Energy Information Administration (EIA), oil outputs from the top shale-producing regions would increase by 16,000 bpd to 9.86 million bpd
After Iran's strike on Israel over the weekend turned out to be less destructive than expected, worries of a rapidly escalating battle that might replace barrels of crude oil eased, and oil prices fell on Monday.
Oil prices were also negatively impacted by the United States' increasing oil output. According to the Energy Information Administration (EIA), oil outputs from the top shale-producing regions would increase by 16,000 bpd to 9.86 million bpd, which is the highest level in five months.
Brent futures decreased by 35 cents or 0.4% to settle at $90.10/barrel.
WTI fell by 25 cents or 0.3% to settle at $85.41/barrel.