Oil drops from near six-month highs on hopes Iran war hostilities to ease
- Oil prices fell on Monday after hitting near six-month highs last week, influenced by hopes of easing US-Iran hostilities.
- West Texas Intermediate crude dropped $2.23 to $101.04 per barrel, while Brent crude fell $2.21 to $114.51.
- Volatility in oil markets is expected to remain high, with risks skewed to the upside despite the mediation efforts.
