Oil prices continued to decline during Tuesday's trading, amid follow-up to the latest developments in the Corona pandemic and the invasion of Ukraine, and before the release of OPEC's monthly report.
Brent crude futures for May delivery fell 4.24% to $102.37 a barrel.
The US NYMEX crude contracts for April delivery also fell by 4.34% at the level of $98.54 a barrel.
The economic community is awaiting the release of the monthly production report in February issued by the Organization of the Petroleum Exporting Countries, which will be released later today.
Meanwhile, the fourth round of talks between Ukraine and Russia ended without progress, and negotiations are expected to resume today, amid assurances from the Ukrainian Deputy Prime Minister for Integration European and Euro-Atlantic that Moscow is escalating its attacks in the western part of the country.
On the other hand, the recent wave of the Corona virus in China - in light of the outbreak of the Omicron mutant - presents a major challenge to the policy of maintaining virus infections for the world's largest oil importer at zero.
