Global oil prices eased on Monday after Donald Trump said the United States would begin steps to help vessels move through the Strait of Hormuz. The announcement calmed some market fears, although the lack of a peace deal between the US and Iran kept crude prices above $100 a barrel.

US benchmark West Texas Intermediate (WTI) crude fell to $101.40 per barrel, while Brent crude traded at $107.70 per barrel.

According to Reuters, Brent crude futures dropped 64 cents, or 0.59 percent, to $107.53 a barrel. On Friday, the contract had already fallen by $2.23. WTI crude also slipped 84 cents, or 0.82 percent, to $101.10 per barrel after losing $3.13 in the previous session.

In a post on his social media platform Truth Social, Trump said Washington had informed regional countries that it would guide ships safely through restricted waterways so trade could continue without disruption.

Shipping activity in the Strait of Hormuz, however, remains limited. Traders say uncertainty over security conditions and the absence of a breakthrough in US-Iran talks are still supporting prices.

Negotiations between Washington and Iran continued over the weekend. Trump has called a nuclear agreement with Tehran a priority, while Iran wants nuclear discussions delayed until fighting ends and Gulf shipping restrictions are lifted.

Meanwhile, OPEC+ announced on Sunday that seven member states will raise output by 188,000 barrels per day in June, marking the third straight monthly increase. Analysts said the impact may remain limited as tensions around Iran and shipping routes continue.