Oil prices reversed early gains on Monday after Iran's foreign ministry said negotiations with the U.S. could be pursued based on national interests, Reuters reported.
Benchmark prices had earlier touched more than one-month highs on concern over disruption to shipments through the Strait of Hormuz.
Brent crude futures were down 14 cents, or 0.16%, at $87.96 a barrel by 0852 GMT after hitting $91.42 for their highest since June 11.
U.S. West Texas Intermediate crude was down 50 cents, or 0.61%, at $81.99 after touching its loftiest level since June 12.
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