World oil prices fall by over 1%

Oil prices, which ended last week at their highest since October, fell on Monday, Report informs via Interfax,

June futures for Brent oil fell in price on the London ICE Futures exchange by $1.26 (1.38%), to $89.91 per barrel.

On Friday, Brent rose $0.52 (0.6%) to $91.17 per barrel.

May futures for WTI fell in price in e-trading on the New York Mercantile Exchange NYMEX by $1.15 (1.32%), to $85.76 per barrel.

During the previous session, the contract rose in price by $0.32 (0.4%), to $86.91 per barrel.

Last week, Brent and WTI rose in price by 4.8% and 4.5%, respectively

Traders continue to monitor geopolitical news, including Iran's threats to retaliate against Israel following the attack on the Iranian consulate in Damascus. Despite sanctions, Iran is OPEC's third-largest oil producer.

The Israel Defense Forces withdrew all units from the southern Gaza Strip on Sunday night, The Jerusalem Post said. According to the newspaper, to date only one Israeli army brigade remains in place, whose task is to ensure the security of the corridor connecting southern Israel with the coast of the Gaza Strip.