Mumbai, Oct. 19 -- Crude oil prices are retreating from a one-month high on Monday morning in Asia following US President Donald Trump's decision to waive key sanctions and tariffs on Russia, a move expected to boost Russian fuel exports. But escalating hostilities in the Middle East and Eastern Europe could retain oil prices are higher levels after last week's 10% surge. Currently, oil futures are down nearly 2% with WTI oil futures at $97.36 per barrel and Brent at $ 107.79 per barrel. In the Middle East, hostilities between Saudi Arabia and Iran-backed Houthi rebels remain reportedly intense, highlighted by a recent Saudi helicopter crash near the Yemen border and Houthi strikes targeting Yanbu, a major oil export hub.
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