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Global crude oil prices fell in early Asian trading on Monday, October 19, after the United States withdrew several planned sanctions against Russia, easing concerns over potential disruptions to global oil supplies.
Brent crude futures dropped more than 1.5% to $107.92 a barrel, according to a report by Al Jazeera.
The decline came after US President Donald Trump signed an executive order on Friday cancelling several proposed measures targeting Russia before they could take effect.
The planned measures included tariffs on Russian goods and punitive actions related to purchases of Russian oil and gas.
Their withdrawal raised expectations that Russian energy supplies would remain available to international markets, helping ease some concerns about supply shortages.