Global crude oil prices recorded a modest decline on Monday, with Brent crude futures falling by around 2.1 per cent to $107.57 per barrel, while US West Texas Intermediate (WTI) crude traded near $99.46 per barrel.
According to a report shared on social media platform X, oil prices declined at the start of trading on Monday.
The decline followed US President Donald Trump’s signing of an executive order on Friday that lifted several proposed sanctions related to Russia. The restrictions had been scheduled to take effect in the coming days and included tariffs on Russian products and penalties for purchasing Russian oil and gas.
The latest drop came after crude oil prices surged on Friday, closing at their highest levels since May 19.
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