Baghdad: Oil prices declined in early trading on Monday, continuing their losses since last week. Brent crude futures fell 20 cents, or 0.3%, to $74.23 a barrel, while West Texas Intermediate crude, the US intermediate, fell 28 cents, or 0.4%, to $70.12 a barrel.

According to National Iraqi News Agency, the decline in oil prices is part of a trend observed since last week, as market participants remain cautious. The ongoing fluctuation in prices reflects changes in global demand and supply dynamics, impacting key benchmarks like Brent and West Texas Intermediate.

Market analysts are closely monitoring the situation, as these price movements may influence broader economic indicators. The developments in oil prices are being watched by stakeholders across industries, given their potential impact on energy markets worldwide.