Oil prices slightly increased Thursday in thin holiday trading, supported by demand hopes in China, the world’s biggest crude importer.
The international benchmark Brent crude rose by 0.16% to $73.25 per barrel at 11.10 a.m. local time (0810 GMT), up from $73.13 at the close of the previous session.
The US benchmark West Texas Intermediate (WTI) also edged up by 0.24% to $70.1 per barrel, compared to its prior session close of $69.93.
Oil markets experience thin trading volumes due to the Christmas holiday.
Prices rose with news that Chinese authorities have agreed to issue 3 trillion yuan worth of special treasury bonds next to boost their struggling economy.
Higher supply and demand expectations for fossil fuels also supported prices as US President-elect Donald Trump will take office in January 2025.
