Singapore (Business Desk): Crude oil prices recorded a slight decline at the start of the week in Asian markets, mainly due to expectations of easing tensions between the United States and Iran.
During early trading hours, the price of British Brent crude stood at $97.69 per barrel.
US President Donald Trump, speaking in an interview with American broadcaster CBS, said that he did not want to further escalate the conflict with Iran.
His statement eased concerns among global investors regarding rising tensions, raising expectations of a further decline in oil prices.
However, at least three incidents involving commercial and oil tankers in the Persian Gulf and the Strait of Hormuz have once again increased concerns about uncertainty in the global energy market.