Oil prices wavered on Monday after the U.S. and Colombia reached a deal on deportations, reducing immediate concern over oil supply disruptions but keeping traders on edge. Brent crude futures dropped 24 cents,

President Donald Trump ordered his administration to impose tariffs and sanctions on Colombia for refusing to allow two military planes carrying deported migrants to land, punishing a US security partner for stepping out of line with his immigration goals.

A short-lived tariff feud with the Latin American nation underscored the president's propensity to use economic sanctions as political leverage.