Oil prices fell slightly Tuesday morning as traders continued to monitor the uncertainty surrounding US-Iran talks, Reuters reports.

Brent crude oil, considered the international benchmark, fell 75 cents to $94.23 a barrel. And the US West Texas Intermediate (WTI) crude oil dropped 85 cents to $91.31 a barrel.

The decline followed a sharp rise on Monday, when the prices of both crude oils had risen significantly.

Despite Monday's gains, oil prices fell more than 16 percent in May. This came amid the ongoing ceasefire and expectations that a broader agreement between Washington and Tehran could lead to increased Iranian oil exports and an increase in global oil supply.