Oil prices fell Monday from near-record highs of roughly $120 a barrel, after President Trump suggested in an interview with CBS News that the war in Iran could end very soon. Trump also called Russian President Vladimir Putin on Monday to discuss the war; soon after the call, Trump said that the U.S. would ease some oil sanctions. This comes after the U.S. Treasury Department said it would temporarily allow Russian oil sales to India — just weeks after India agreed to stop buying Russian fuel in exchange for a U.S. trade deal. Putin has said that Russia is ready to supply oil and gas to Europe, as the war on Iran has halted oil shipments through the Strait of Hormuz while seeing major damage to oil fields and refineries across the Middle East. Europe had largely stopped purchasing oil from Russia to stop funding its war on Ukraine.