Oil prices rose slightly on December 29 morning after a sharp decline in the previous session.
The price of March futures for Brent on the London ICE Futures exchange amounted to $77.59 per barrel, which is $0.44 (0.57%) higher than the closing price of the previous session.
Quotes of WTI oil futures for February in electronic trading on the New York Mercantile Exchange (NYMEX) increased by $0.31 (0.43%) and amounted to $72.08 per barrel.
Analysts say the main reason for the fall in oil prices on December 28 was the reduction in fears about attacks by the Yemeni Houthis on transport ships. In particular, on December 27, the Danish transport and logistics company A.P. Moeller-Maersk AS announced the resumption of transportation through the Red Sea after the implementation of an international mission to ensure security in the region.
Data on oil and petroleum product reserves in the US, released the day before, failed to support quotes.
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