Global oil prices fall

Oil prices fell on Wednesday morning after rising in the previous session, Report informs referring to trading data.

The price of March Brent crude oil futures on the London ICE Futures exchange fell by $0.75 (1.16%) to $64.17 per barrel.

WTI crude oil futures for March in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.59 (0.98%) to $59.77 per barrel.

Fears of escalating tensions between the US and Europe amid Washington's intensified efforts to gain control of Greenland are putting pressure on oil prices. US President Donald Trump previously threatened to impose new tariffs on goods from European countries that oppose his plans to annex the island, a self-governing territory of Denmark.