Oil prices rise slightly

World oil prices rose slightly on November 25 morning, in general, the market is indecisive, analyzing the factors of China and the price cap for raw materials from Russia, reported from the auction data.

The price of January futures for Brent crude rose by 0.48% to $85.75 per barrel, January futures for WTI grew by 0.76% to $78.53.

Markets continue to evaluate the prospects for supply in the market. In particular, the attention of traders is drawn to the EU's plans to introduce a "price ceiling" on Russian oil. On November 24, the newspaper Politico reported that most of the countries of the union supported the proposal to introduce it at the level of $65-$70 per barrel.

On the other hand, there are doubts about the outlook for global demand as China set a daily record for new coronavirus infections. This country is one of the largest importers and consumers of oil in the world, and quarantine restrictions reduce the need for raw materials.

Bloomberg later reported that the EU talks were postponed due to disagreements between the countries, and that discussions could resume on November 25. After that, the market noted a slight reduction in oil prices.





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