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Oil prices on decline – again! – By Hemantha Yapa Abeywardena   Source : oilfutures  The price of crude oil is back on decline, having been on the rise for about three weeks. As of 13:00 GMT on Tuesday, the prices of WTI and Brent were at $77.94 and $81.97 respectively.  Although some analysts were quick to predict a surge in oil prices due to the attacks carried out by Israel on Saturday, on Hodeidah port in Yemen, targetting oil facilities, it did not materialise. On the contrary, the prices of oil went down, recording that of WTI, below $80. The fossil fuel markets, at present, are in need of a sustainable catalyst. The combination of hyping-up the conflicts in the Middle East and the exaggerated impact of them on the energy markets, certainly is not one of them; its perceived significance appeared to have run its course, judging by the ...