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Brent dropped below $81 after reaching December highs


December, 27 2023
watermark Economic news

Oil prices are slightly declining after reaching December highs in yesterday's trading session. Investors continue to monitor events in the Red Sea, which has an impact on prices.


The current price of Brent oil is $80.75 per barrel, yesterday's maximum was marked at $81.40 per barrel. North American crude is trading near $75.40 after rising to $76.10 in the previous session. 


The Red Sea remains in the spotlight due to the actions of the Houthis from Yemen. On Tuesday, they attacked the MSC United cargo ship after the crew ignored the warning signals of their missile attacks. Explosions and rocket launches were also seen on Tuesday near the port of Hodeidah. 


Earlier, the Danish company A.P. Moeller-Maersk AS announced that it plans to resume transportation in the Red Sea after the implementation of an international mission to ensure the safety of ships. These events affect the situation in the region and may affect oil prices.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.