Geneva: Oil prices slid on Monday following the conclusion of US-Iran talks in Switzerland.

According to Qatar News Agency, Brent crude experienced a decrease of $1.53, or 1.90%, settling at $79.04 a barrel. This decline came after an initial rise to $82.30 at the start of trading. Meanwhile, US West Texas Intermediate crude futures saw a minor drop of 7 cents, bringing the price to $76.53 a barrel ahead of the contract's expiration later in the day. The more active August contract also experienced a decline, falling 55 cents to $75.30 a barrel.

The US market did not have a settlement on Friday due to a holiday, adding to the anticipation and fluctuations seen on Monday.