Oil prices have fallen after Iran agreed a deal to curb some of its nuclear activities in return for easing of international sanctions against it.

The deal has helped ease tensions in the Middle East region

Iran holds the world's fourth-largest oil reserves but its exports have been hurt by the tough sanctions.

Though Iran will not be allowed to increase its oil sales for six months, the deal has eased tensions in the Middle East - a key oil-producing area.

Brent crude fell more than 2% in early Asian trade on Monday.

It dropped by $2.42 to $108.63 per barrel, while US light sweet crude fell 84 cents to $93.64 per barrel.

(Source: BBC)