Oil prices fell on Monday as concerns over tight supply were offset by signs of progress in nuclear talks between the United States and Iran, which could lead to the removal of US sanctions on Iranian oil sales.
Brent crude was down 23 cents, or 0.25 percent, at $93.04 by 9.45 isT, having earlier touched its highest since October 2014 at $96.
US West Texas Intermediate crude fell 77 cents, or 0.83 per cent, to $91.54 after touching $92.73.
US Administration on Friday restored sanctions waivers to Iran to allow international nuclear cooperation projects.
