The cost of March Brent oil futures on the London ICE Futures exchange amounted to $82.64 per barrel, which is $0.23 (0.28%) lower than at the close of previous trading.
The trading period for March contracts expires on Wednesday. More actively traded April Brent futures fell $0.23 (0.28%) to $82.27 per barrel.
WTI oil futures for March in e-trading on the New York Mercantile Exchange (NYMEX) fell by $0.21 (0.27%) to $77.61 per barrel.
Oil prices rose more than 7% in January due to Houthi attacks on ships in the Red Sea and the response by the United States and its allies.
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