India, Nov. 9 -- Oil prices declined on Monday after US President Donald Trump indicated that he was unlikely to order fresh military strikes against Iran as long as talks to end the conflict continued. However, attacks on ships in and around the Strait of Hormuz kept concerns about possible disruptions to global oil supplies alive.

Brent crude futures fell 75 cents, or 0.75%, to $97.57 per barrel by 1011 GMT on Monday. US West Texas Intermediate (WTI) crude futures also dropped 38 cents, or 0.4%, to $90.45 per barrel, Reuters reported.

Brent crude prices plunged 16% last week. This was the benchmark's biggest weekly decline since the beginning of the Covid-19 pandemic, showing how sharply oil prices have fallen amid changing expectatio...