London: Oil prices remained largely unchanged on Monday after rising in the previous session, as the likelihood of a US attack on Iran, which could have disrupted oil supplies, diminished. By 03:27 GMT, Brent crude was up 6 cents, or 0.09%, at $64.19 a barrel.

According to National Iraqi News Agency, US West Texas Intermediate (WTI) crude futures for February delivery rose 9 cents, or 0.15%, to $59.53 a barrel. This contract expires on Tuesday. The more actively traded March contract was at $59.39, up 5 cents, or 0.08%.

“This pullback followed the rapid erosion of the Iran-induced price premium that had pushed prices to 12-week highs,” said IG market analyst Tony Sycamore in a note.