Oil Down From Multi-Year Highs Due to Optimistic Demand Outlook.

Oil was down Monday morning in Asia, as investors keep monitoring the talks between Iran and world powers that could lead to increased Iranian supplies.

Brent oil futures fell 0.38% to $71.62 by 12:57 PM ET (4:57 AM GMT). WTI futures were down 0.26% to $69.44, after hitting $70 a barrel for the first time since October 2018 earlier in the session due to a brightening fuel demand outlook.

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