Oil prices dropped slightly on Monday morning as investors monitor the situation in the Middle East, Report informs via Interfax.
June futures for Brent oil fell in price on the London ICE Futures exchange by $0.31 (0.34%), to $90.14 per barrel.
Last Friday, Brent rose by $0.71 (0.8%) to $90.45 per barrel.
May futures for WTI fell in price on the New York Mercantile Exchange NYMEX by $0.40 (0.47%) to $85.26 per barrel.
Over the last session, the contract rose by $0.64 (0.8%) to $85.66 per barrel.
Last week, Brent and WTI fell in price by 0.8% and 1.4%, respectively.
The main event of the past weekend for the oil market was Iran's large-scale attack on Israel using missiles and drones.
The Israeli leadership did not take immediate retaliatory measures, which somewhat calmed the markets. Meanwhile, the Israeli military has presented the government with a "wide range of options" for responding to the Iranian attack, which will be discussed in the coming days, ABC News said, citing an Israel Defense Forces spokesman.
Hamas rejected a proposal for a truce in Gaza put forward during talks in Cairo last week, the Israeli Prime Minister's Office and the Mossad intelligence agency said in a statement. The proposal provided for a cessation of fighting in the enclave for three months and the exchange of 5,000 Palestinian prisoners for hostages still kept in Gaza by Hamas.
