Brent crude prices fell from a five-month high on Monday as traders weighed renewed tensions in West Asia against signs that regional supplies were holding near pre-war levels.
The global benchmark declined 1.5 percent to USD 108.27 a barrel, while US benchmark West Texas Intermediate (WTI) fell 0.6 percent to USD 100.83 a barrel.
Oil prices also reacted to US President Donald Trump's decision to waive some sanctions on Russia, although he later said a final decision on the matter had not been made.
Despite the decline, crude prices remained elevated amid continuing geopolitical tensions and uncertainty over energy supplies.
Ponmudi R, CEO of Enrich Money, said persistently high crude oil prices and geopolitical uncertainty were keeping macroeconomic risks in focus for Indian equities.