Brent crude oil falls below $80

The price of Brent crude briefly fell below the symbolic level of $80 per barrel on Tuesday for the first time since January, when prices began to rise ahead of the Russian invasion of Ukraine.

Around 1700 GMT, the price of Brent crude for delivery in February, the main international oil contract, was down 3.1 percent at $80.08. The main US contract, WTI for January delivery, slumped 2.9 percent to $74.72, reports AFP.