Oil slightly up on prospects for higher demand

Global oil prices edged up slightly on December 28 morning as traders gauge the prospects for rising demand following the easing of coronavirus restrictions in China, reported from the auction data.

The price of February futures for Brent crude rose by 0.24% to $84.88 per barrel, February futures for WTI grew by 0.14% to $79.64.

Earlier, China’s health committee announced that the country’s authorities plan to ease coronavirus restrictions from January 8. In particular, quarantine will be lifted for those entering the country.

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