<div id="readability-page-1">LONDON, Jan 19 : Oil prices fell on Monday as civil unrest in Iran subsided, reducing the likelihood of a U.S. attack that could disrupt supply from the major producer, while the market also tracks the escalating stand-off over Greenland. Brent crude was trading at $63.79 a barrel at 1239 GMT, down 40 cents or 0.62 per cent. U.S. West Texas Intermediate for February fell 44 cents, or around 0.74 per cent, to $59.00 a barrel. The contract expires on Tuesday and the more active March contract was at $58.98, down 36 cents, or 0.61 per cent. &#34;With fears around Iran subsiding over the last few days after rumours of a U.S. attack, the market is now focusing on the Greenland situation and how deep any fallout between the U.S. and Europe could be, as any trade war expansion could impact demand,&#34; said Rystad analyst Janiv Shah. Iran's violent crackdown has quelled protests, which officials say killed 5,000 people and U.S. President Donald Trump seemed to step back from his earlier threats of intervention. EU leaders will convene in Brussels on Thursday for an emergency summit following Trump's threats to impose new tariffs on several EU countries over his demand to acquire Greenland, a European Union spokesperson said on Monday. Trump said on Saturday European imports would be hit by a wave of increasing tariffs until the United States is allowed to buy Greenland, escalating a conflict over the future of Denmark's vast Arctic island. The market was also looking at the risk of damage to Russian infrastructure and distillate supplies at a time of forecasts of colder weather to come across North America and Europe, which along with concerns around Iran was making the market uneasy, said PVM Oil Associates analyst John Evans.  U.S. markets are closed on Monday for Martin Luther King Jr. Day. Kazakh oil producer Tengizchevroil, led by Chevron, said on Monday that it had temporarily halted production as a precautionary measure at the Tengiz and Korolev oilfields after an issue affected power distribution systems.</div>

<p>Oil prices fell as civil unrest in Iran subsided, reducing supply disruption fears. Brent crude was at $63.79 a barrel, down 0.62%, while U.S. West Texas Intermediate dropped to $59.00, down 0.74%. Analysts noted the market's focus shifted to the escalating situation over Greenland and potential trade war impacts on demand. Meanwhile, Kazakh oil producer Tengizchevroil temporarily halted production due to power distribution issues. U.S. markets were closed for Martin Luther King Jr. Day.</p>

- Oil prices decreased as civil unrest in Iran diminished, alleviating fears of a U.S. attack that could disrupt oil supply.  
- Brent crude was priced at $63.79 per barrel, while U.S. West Texas Intermediate fell to $59.00 per barrel, reflecting market concerns about geopolitical tensions and a potential trade war over Greenland.  
- Additionally, Kazakhstan's Tengizchevroil temporarily halted production due to power distribution issues, contributing to uncertainty in the market.

Oil down as easing Iran unrest dampens supply fears while Greenland looms