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World oil prices on Monday morning show a slight decline, trading data show. Trading volume was lower amid the celebration in Asia of the New Year according to the lunar calendar.

The price of Brent crude oil futures for March was down 0.4% to $87.28 per barrel and WTI oil futures for March - down 0.36% to $81.35.

Prior to the opening of markets in Europe and the U.S., trading volume was reduced as China and other East Asian countries celebrated the New Year, timed to coincide with the winter new moon. Markets in China, Hong Kong and South Korea are closed.

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