Oil prices plunge 1.0pc

LONDON, Jan 19 (Reuters): Oil prices fell 1 per cent on Monday, reversing the previous session's gains, as civil unrest in Iran subsided, lowering the chance of a US attack that could disrupt supply from the major Middle Eastern producer.

Brent crude was trading at $63.48 a barrel at 0912 GMT, down 65 cents or 1 per cent.

US West Texas Intermediate for February fell 65 cents, or around 1 per cent, to $58.84 a barrel.

The contract expires on Tuesday and the more active March contract was at $58.77, down 57 cents, or 1 per cent.