Ammon News - Oil prices fell 1% on Monday as immediate fears of a conflict in the Middle East eased after the U.S. and Iran pledged to continue talks about Tehran's nuclear programme over the weekend, calming investors anxious about supply disruptions.

Brent crude futures fell 67 cents, or 1%, to $67.38 a barrel on Monday by 0444 GMT, while U.S. West Texas Intermediate crude was at $62.94 a barrel, down 61 cents, or 1%.

Iran and the U.S. pledged to continue the indirect nuclear talks following what both sides described as positive discussions on Friday in Oman despite differences. That allayed fears that failure to reach a deal might nudge the Middle East closer to war, as the U.S. has positioned more military forces in the area.

Both benchmarks fell more than 2% last week on the easing tensions, their first decline in seven weeks.

Reuters