Oil prices fell on Tuesday, after rising in the previous session, in light of expectations of increased supplies from Russia, in addition to the possibility of a more-than-expected decline in demand for aviation fuel.
Brent crude futures for May delivery fell 16 cents to $86.73 a barrel, while the price of US West Texas Intermediate crude fell 13 cents to $82.03. The April West Texas Intermediate crude contract, which expires tomorrow, fell 16 cents to $82.56.
The two benchmarks reached their highest levels in four months, supported by a decline in crude oil exports from Saudi Arabia and Iraq and indications of strong demand and economic growth in China and the United States.
Source (Al-Arabiya.net website, edited)
