Oil falls after Trump statement on ships in Strait of Hormuz

Oil prices fell by more than $1 a barrel after U.S. President Donald Trump said Washington planned to launch an operation to move commercial vessels blocked in the Strait of Hormuz.

Brent crude futures fell $1.83, or 1.69%, to $106.34 a barrel in Monday trading.

U.S. West Texas Intermediate crude dropped $1.72, or 1.69%, to $100.22 a barrel.