Singapore: Oil prices fell by more than 1% in early Asian trading on Friday, easing from multi-month highs, but remained on track for their strongest monthly gains in years amid investor concerns over potential supply disruptions should the United States launch a military strike against Iran.

According to Qatar News Agency, Brent crude futures fell 91 cents, or 1.3%, to $69.80 a barrel, after rising 3.4% in the previous session to their highest level since July 31. West Texas Intermediate (WTI) crude declined $1.06, or 1.6%, to $64.36 a barrel, following a 3.4% gain on Thursday that lifted prices to their highest level since September 26, 2025.

Despite the pullback, both benchmarks are on track for their first monthly gains in six months. Brent crude has risen 14.7% so far this month, marking its biggest monthly increase since January 2022, while WTI is up 12%, its strongest monthly gain since July 2023.