Ammon News - Oil prices dipped on Monday, after Iran said it had "total control" following weekend violence, easing some concerns over supply from the OPEC producer, while investors also weighed efforts to resume oil exports from Venezuela.

Brent crude futures lost 22 cents, or 0.4%, to $63.12 a barrel by 0939 GMT while U.S. West Texas Intermediate crude was at $58.87 a barrel, down 25 cents, or 0.4%.

Both benchmarks rose more than 3% last week in their biggest such rise since October, as Iran's clerical establishment stepped up its crackdown on the biggest demonstrations since 2022, though protests escalated over the weekend.

Reuters