Oil prices rise over 1%

Oil prices rose on December 29 morning after a sharp decline last Friday, Report informs referring to trading data.

The price of February Brent crude oil futures on the London ICE Futures Exchange rose by $0.64 (1.06%) to $61.28 per barrel.

WTI crude oil futures for February in electronic trading on the New York Mercantile Exchange (NYMEX) rose by $0.60 (1.06%) to $57.34 per barrel.

Since the beginning of the year, Brent has fallen by 19%, and WTI by 21% on fears of increasing global fuel oversupply. This is the worst performance since 2020.