Global oil prices fall

Global oil prices fell after rising the previous day, as investors assess the outlook for the Middle East conflict, Report informs referring to trading data.

The price of August Brent crude oil futures on London's ICE Futures exchange was $93.44 per barrel, down 0.86% from the previous close.

WTI crude oil futures for July on the New York Mercantile Exchange (NYMEX) electronic trading fell 1.26% to $90.15 per barrel.

Over the weekend, Israel and Iran exchanged fire, threatening the fragile ceasefire and raising fears of a wider escalation.

US President Donald Trump called on both countries to de-escalate the conflict, stating that negotiations with Tehran are ongoing and that oil prices should decline once the fighting ends.