Baghdad: Oil prices fell by 1% on Monday as the United States and Iran headed to a third round of nuclear talks, easing concerns about a potential conflict. This comes amid uncertainty surrounding global growth and fuel demand following US President Donald Trump’s decision to raise US tariffs on global imports.

According to National Iraqi News Agency, Brent crude futures fell 75 cents, or 1.05%, to $71.01 a barrel by 00:55 GMT, while US West Texas Intermediate crude futures fell 74 cents, or 1.11%, to $65.74 a barrel.