Pakistan, Feb. 9 -- Oil prices fell 1% on Monday after the US and Iran pledged to continue nuclear talks, easing fears of immediate conflict in the Middle East. Brent crude dropped 67 cents to $67.38 a barrel, while US West Texas Intermediate fell 61 cents to $62.94 a barrel.

Investors were reassured as both countries described their discussions in Oman as positive, despite ongoing differences. Analysts said the pledge reduced fears of supply disruptions in the region, which could have pushed prices higher.

Read more: Oil prices fall 2% as fears of potential supply disruptions ease

Last week, both Brent and WTI crude fell more than 2%, marking the first decline in seven weeks. Market watchers said volatility remains high due to conflic...