Oil prices rose on Monday, January 15, as traders awaited possible supply disruptions in the Middle East. Brent crude futures rose 13 cents, or 2.0 percent, to $78.42 a barrel, after rising 1.1 percent on Friday. US West Texas Intermediate crude recorded $73.72 per barrel, up five cents, or 0.1 percent, after rising about 1 percent in the previous session.
The two benchmarks jumped more than 2 percent last week to touch their highest levels this year after American and British forces launched dozens of air strikes against Houthi forces in response to months-long attacks on shipping in the Red Sea.
Source (cnbcarabia website, edited)
