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Oil prices rise on disruption fears after latest Red Sea attack
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Oil prices rose in the first session of the new year, boosted by potential disruption to Middle Eastern supply after the latest attack on a container ship in the Red Sea, and by Chinese demand hopes.
Brent crude was up 49 cents, or 0.6%, to $77.53 a barrel at 1432 GMT. U.S.
West Texas Intermediate crude was up 36 cents, or 0.5%, at $72.01, after both benchmarks gained around $2 in earlier trading.
A Reuters survey of economists and analysts predicted that Brent crude would average $82.56 a barrel this year, up slightly from the 2023 average of $82.17, with weak global growth expected to cap demand. Geopolitical tensions, however, could provide price support.
U.S.
About this in other media
Oil prices jump nearly 2% after US airstrikes against Houthis investing.com /4 months ago
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