Khaberni - Oil prices declined on Monday, erasing their early gains after US President Donald Trump called on other nations to help protect the Strait of Hormuz, a vital artery for global oil and gas shipments.
Brent crude futures fell 24 cents, or 0.23%, to $102.90 a barrel, after closing up $2.68 on Friday.
West Texas Intermediate crude dropped $1.07, or 1.08%, to $97.64 a barrel, after rising nearly three dollars in the previous session.
Both oils have risen more than 40% this month to their highest levels since 2022 after Tehran halted shipping through the Strait of Hormuz due to American and Israeli attacks on Iran, cutting off one fifth of global oil supplies in the largest disruption ever.
Trump said he is asking other countries to help protect this vital energy corridor, adding that Washington is holding talks with several countries regarding monitoring the passage.
Trump also mentioned that the United States is in contact with Iran as well, but he expressed doubts that Tehran is ready to conduct serious negotiations to end the conflict.
Trump threatened further attacks on the Iranian oil export center on Kharg Island, after attacking military targets over the weekend, prompting Tehran to defy Trump's statements and threaten further revenge.
About 90% of Iranian oil exports pass through Kharg Island.
