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There was no significant change in oil prices today, Tuesday, as traders are studying a group of disturbing and conflicting data on the levels of supply and demand, with increasing tension in the Middle East region and problems related to cold weather causing a disruption in production in the United States.
Brent crude futures fell two years to $80.04 per barrel, while US West Texas Intermediate crude futures fell to $74.75 per barrel.
The two crude oil prices rose by about 2% yesterday, Monday, as a Ukrainian drone attack on Novatek’s Ust-Luja fuel export station raised concerns about supplies and thus higher prices. Analysts expect that Novatek will largely resume its operations there within weeks.
Source: Arabic