Oil prices fall

Oil prices fell on January 17 amid a strengthening US dollar and ongoing tensions in the Red Sea region, Report informs referring to Interfax.

The cost of March futures for Brent oil on the London ICE Futures exchange amounted to $77.66 per barrel, which is $0.63 (0.8%) lower than at the close of previous trading.

WTI oil futures for February in electronic trading on the New York Mercantile Exchange (NYMEX) fell in price by $0.65 (0.9%) to $71.75 per barrel.

Following the previous trading, the cost of these contracts fell by $0.28 (0.4%) to $72.4 per barrel.