Oil Prices Slide Amid Diplomatic Efforts and Ongoing Violence

Oil prices continued their decline in Asian trading on Monday, with Brent crude futures slipping 1% to $99.27 per barrel and WTI crude falling 0.9% to $102.93 per barrel.

The losses come as investors remain focused on diplomatic efforts to ease tensions between the US and Iran, following a weekend of renewed violence in the region.

Saudi Arabia's East-West pipeline remains affected by Houthi attacks, but reports that Riyadh is seeking alternative ways to move barrels to international markets have eased fears of an immediate shortage.