Jan 3, 2024: Oil prices experienced a slight decline on Wednesday, following significant fluctuations earlier in the week. This drop came as investors showed caution regarding the state of the U.S. economy amidst ongoing supply disruptions in the Red Sea.
The price of Brent crude decreased by 39 cents to $75.50 per barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures slipped 51 cents to $69.87 per barrel.
Earlier in the week, prices had surged by approximately $2 after Houthi rebels launched attacks on vessels in the Red Sea.
