Oil prices are falling on Tuesday after a significant rise in the previous session amid new economic stimulus in China and rising tensions in the Middle East.
The cost of February Brent futures on the London ICE Futures exchange was $71.78 per barrel, which is $0.36 (0.5%) lower than at the close of the previous trades. On Monday, these contracts rose by $1.02 (1.4%), to $72.14 per barrel.
WTI oil futures for January on the electronic trading of the New York Mercantile Exchange (NYMEX) fell in price by $0.39 (0.57%), to $67.98 per barrel. At the end of the previous session, the cost of these contracts increased by $1.17 (1.7%), to $68.37 per barrel.