Analysts expect rise in oil prices in global markets to $80

Brent oil prices fell on December 24 morning, but remained significantly above $75 per barrel, Report informs referring to the trading data.

The prices for Brent crude during the trading session on December 23 reached the level of $77 per barrel and remained just below it at the close of trading, ending the day before the Christmas holidays on a positive note.

Analysts believe that this opens up the technical potential for oil prices to rise to $80 per barrel.

Fading concerns about the omicron strain allowed oil prices to reach highs since the end of November, having regained 61% of the decrease caused by the new strain.