Oil Prices Decline for First Time in Five Sessions

Oil prices declined on Monday for the first time in five sessions after briefly rising due to fears about geopolitical tensions.

Brent crude futures for May delivery lost $1.12 or 1.6%, to close at $68.24 per barrel.

The global benchmark futures exceeded $71.3 per barrel yesterday, trading higher than $70 for the first time since January 2020.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery declined by $1.04, or 1.6%, to finish at $65.05 per barrel.

Last week, oil futures scored large gains after the OPEC+ alliance decided to extend the output curbs to the end of April.