Baghdad: Oil prices fell by more than 1% in early Asian trading on Monday, following progress in nuclear talks between the United States and Iran, which alleviated concerns about oil supply.

According to National Iraqi News Agency, Brent crude futures decreased by 78 cents, or 1.15%, reaching $67.18 per barrel. Meanwhile, US West Texas Intermediate crude experienced a drop of 77 cents, or 1.19%, settling at $63.91 per barrel.