Global oil prices rise insignificantly

Oil prices rose on Monday morning.

Report informs via Interfax that January Brent futures rose in price on the London ICE Futures exchange by $0.55 (0.68%) to $81.16 per barrel.

January futures for WTI rose in price on the New York Mercantile Exchange NYMEX by $0.53 (0.7%) to $76.57 per barrel.

Due to a strong rally on Friday, both brands reduced their weekly decline to a minimum. Over the past week, Brent prices decreased by 1%, and WTI prices increased by 1.7%.

The sharp rise in prices on Friday was caused by rumors that OPEC+ may extend restrictions on oil production for several months or increase the volume of fuel production cuts.