Oil prices fall after signs of progress in US-Iran nuclear talks

Oil falls after signs of progress in U.S.-Iran nuclear talksOil prices fell on Monday on expectations the U.S.-Iran talks may be nearing a conclusion on reviving a deal restricting the OPEC country's nuclear weapons development, which would raise crude supply, though global supply concerns capped losses.

U.S. President Joe Biden's administration on Friday restored sanctions waivers to Iran to allow international nuclear cooperation projects, as the talks on the 2015 international nuclear deal enter the final stretch.

If the United States lifts sanctions on Iran, the country could boost oil shipments, adding to global supply.

Brent crude was down 53 cents,