Oil prices fell in early transactions on Monday, as markets absorbed comments from Federal Reserve officials calling for caution before a possible rate cut, while transactions were weak on a public holiday in the United States.
Brent crude futures fell 58 cents, or 0.69 percent, to $82.89 per barrel. West Texas Intermediate crude futures fell 35 cents, or 0.44 percent, to $78.84 per barrel. Markets are still awaiting the trend of demand from China after the country's return from the weeklong Lunar New Year holiday, while transactions remained weak due to the Presidents Day holiday in the United States.
Source (Al-Arabiya.net Website, Edited)
