Global oil prices were trading slightly lower early on Monday, despite a weekend dominated by rising tensions in the Middle East. International benchmark Brent crude was down by almost 0.4% at $90 a barrel in Asia dealing, while US crude futures were also lower, according to LSEG data.
Brent is 17% up in the year to date while US crude is almost 19% higher and talk is growing that figures way above $100 a barrel are likely if there is no sign of an easing of tensions. Iran's seizure of a tanker last week, which it claimed had links to Israel, only served to stoke jitters over consequences for trade.
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