Oil fell on Monday after US President Donald Trump played down the prospect of new strikes on Iran, although supply disruption in the Strait of Hormuz remains in focus as attacks on ships continue. Brent, the benchmark for two thirds of the world's oil, was down 1.83 per cent at $96.52 a barrel at 1.23pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was trading 1.30 per cent lower at $89.65 a barrel.