Baghdad: Oil prices fell at settlement on Monday, but remained near their highest level in six months. Brent crude futures fell 27 cents, or 0.38%, to settle at $71.49 a barrel. US West Texas Intermediate crude futures fell 17 cents, or 0.26%, to settle at $66.31 a barrel.

According to National Iraqi News Agency, growing concerns about a potential military confrontation between the United States and Iran drove Brent crude prices up by more than 5% last week. The increase pushed prices to their highest level since July 2015, with the price per barrel reaching $72.34.