SINGAPORE: OilNSE 1.35 % prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran.
Brent crude futures were at $71.80 per barrel at 0215 GMT, down 35 cents, or 0.5 per cent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $62.91 per barrel, down 39 cents, or 0.6 per cent, from their previous settlement.
Both benchmarks fell around 3 per cent in the previous session.
ANZ bank said on Monday oil prices “took a hit after President Trump indicated he had spoken with Saudi Arabia about reducing the impact of lower Iranian oil exports by increasing flows elsewhere.”
