Oil prices calmed down after fluctuating initially on Monday, as investors eyed contrasting scenarios of tighter Russian energy supplies due to the Ukraine crisis and more crude coming to the market on a possible nuclear deal between Iran and world powers.
Brent crude futures and US West Texas Intermediate (WTI) crude rose more than $1 a barrel at the start of Asian trade and subsequently swung to nearly $1 loss on news of a possible summit between the United States and Russia.
