Oil prices fell in early Asian trading, today, Monday, with tension easing in the Middle East, after Israel withdrew more of its soldiers from the southern Gaza Strip and pledged to hold new talks on a possible ceasefire in the conflict that has been going on for six months.

Brent crude futures fell more than $2 to $88.95 per barrel, and US West Texas Intermediate crude futures fell more than $2 to $84.73 per barrel.

Israel and Hamas sent two delegations to Egypt to hold new talks on a possible ceasefire before the Eid holiday, which eased tension in the Middle East, pushing oil prices to rise more than 4% last week due to fears of supply disruptions.

Source: National Iraqi News Agency