Prices of Brent crude dipped 1.08% to close at $68.71 per barrel .
It had reached $70 earlier on Tuesday, reaching the highest level in two months before pulling back to settle at $68.71.
The increase was attributed to the general belief that economic activities would be revived globally, coupled with the oil demand recovery.
Meanwhile, Royal Dutch Shell has revealed that it does not see its upstream oil operations in Nigeria as compatible with its strategy to become a net-zero energy business.
The CEO, Ben Van Beurden, stated that the balance of risks and rewards associated with the company’s onshore portfolio was no longer compatible with the company’s strategic ambitions.
Brent crude dipped by 1.08% to close at $68.71 per barrel, OPEC Basket grew by 2.06% to close at $67.52, while Bonny Light gained 0.35% to close at N68.22/$.