Oil prices are falling on Monday morning amid rising Middle East exports and a decision by the G7 countries to release fuel from strategic reserves.

Accordingly, Brent crude oil futures for December delivery dropped $0.73 (0.71%) to $101.52 a barrel on the ICE Futures stock exchange in London. On Friday, they had fallen $0.06 (0.06%) to $102.25 a barrel.

And WTI crude oil futures for November delivery went down $1.14 (1.25%) to $89.97 a barrel in online trading on the New York Mercantile Exchange (NYMEX). On the previous business day, they had dropped by $1.76 (1.9%) to $91.11 per barrel.