Oil prices fell on Monday as investors eased concerns over a potential supply disruption, following United States President Donald Trump’s remarks on Iran that suggested tensions with Washington might be softening.

Trump has frequently warned Iran of possible action if it does not secure a nuclear deal or continues suppressing domestic protests, which Tehran attributes to Western influence.

On Saturday, he told reporters that Iran was “seriously talking” with the U.S.

Global benchmark Brent crude dropped as much as 6.4 per cent to $66.15 a barrel on Monday, according to LSEG data, and was last down 4.41 per cent.

U.S. West Texas Intermediate futures fell 4.75 per cent to $62.11 per barrel.

Trump’s remarks followed Iran’s top security official, Ali Larijani, who said on X that preparations for talks were underway.

Oil prices had recently surged to a six-month high amid concerns that the U.S. might launch a military strike on Iran.

Last week, Washington deployed a “massive armada” toward the country, fueling fears of a potential confrontation in the Middle East.