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,

WASHINGTON (Reuters) — President Donald Trump said on Sunday he will impose sweeping retaliatory measures on Colombia, including tariffs and sanctions, after the South American country turned away two U.S. military aircraft with migrants being deported as part of the new U.S. administration’s immigration crackdown.

Oil market momentum was kept in check on Monday as prices fluctuated in and out of negative territory, with traders on edge despite the U.S. pulling back from initial sanctions threats against Colombia,