Oil prices retreat slightly; investors wary of Russia–Ukraine tensions

Oil prices retreated a touch early on Tuesday after rising more than 2% in the previous session, partly driven by spillover from a pullback in precious metals even as escalating Russia–Ukraine tensions left markets grappling with supply disruption fears. Brent crude futures for February delivery , which expires on Tuesday, were down 21 cents, or 0.3%, at $61.73 a barrel as of 0150 GMT. The more active March contract was at $61.30, down 19 cents or 0.3%. U.S. West Texas Intermediate crude eased 20 cents, or 0.3%, at $57.88. Both contracts , settled more than 2% higher in the previous session after Moscow accused Kyiv of targeting President Vladimir Putin’s residence, stoking fears of supply disruptions.