Oil prices in the world market fell to the lowest level in more than 1 week on the hope of diplomatic progress on the issue of war between the US and Israel against Iran.

According to the news agency Reuters, due to the partial restoration of oil deliveries from Saudi Arabia and the continuous attacks of the Houthis, investors have reviewed the situation.

Brent crude oil fell $2.16 to $101.71 a barrel.

US West Texas Intermediate (WTI) crude oil fell $2.15 to $98.15 a barrel.

Tim Waterer, chief market analyst at KCM Trade, said some of the risk premium in oil prices has eased on hopes of a diplomatic way out this week to de-escalate the war between the US and Iran.