Oil prices are falling while staying near an 8-year peak

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Crude oil prices fell in early trading on Thursday, while remaining near an 8-year peak.

This is amid calming international fears of the Omicron virus, and the resumption of utilities opening in major economies such as the United Kingdom.

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The world oil markets began talking about the reasons for the rise in the price of Brent barrel to an average of $100 per barrel during the first half of 2022, which is the highest level since 2014.

And at (07:52 GMT), the prices of Brent crude futures contracts for March delivery fell 0.68 percent, or 59 cents, to $87.85 a barrel.

The prices of US West Texas Intermediate crude futures for March delivery also fell 0.57 percent, or 49 cents, to $85.34 a barrel.

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The global demand for crude is still increasing, especially in Europe and the United States, with the persistence of cold weather there, which means more demand for heating sources.