Oil prices fell on Monday morning following a decline over the past week, Report informs via Interfax.
May futures for Brent oil fell in price on the London ICE Futures exchange by $0.56 (0.68%) to $81.52 per barrel.
On Friday, Brent fell $0.88 (1.1%) to $82.08 per barrel.
By this time, April futures for WTI had fallen in price on the New York Mercantile Exchange (NYMEX) by $0.59 (0.76%) to $77.42 per barrel.
During the previous session, the contract fell by $0.92 (1.2%) to $78.01 per barrel.
Investors are cautious ahead of this week's release of US inflation data and monthly reports from OPEC and the International Energy Agency (IEA), which could impact the market outlook, Trading Economics writes.
Traders are also monitoring the truce negotiations between Israel and Hamas, which have not yet yielded significant results, and assessing Chinese foreign trade statistics.
