🚨🚨🚨Good, this is a brief news piece about world oil prices:
📰 Latest updates on international crude oil prices
According to the latest market news, international crude oil prices have shown a range-bound fluctuation recently, but overall, there has been a slight increase amidst the volatility.
New York Light Crude Oil (WTI): Following a slight increase the previous day, prices continue to rise. As of the close on December 4th, the futures price for light crude oil for delivery in January 2026 on the New York Mercantile Exchange rose, closing at $59.67 per barrel, an increase of 1.22%.
London Brent Crude Oil: Also rising, the futures price for Brent crude oil for delivery in February closed at $63.26 per barrel, an increase of 0.94%.
Influencing Factors:
Geopolitical risk premiums, such as potential actions by the U.S. against Venezuela and uncertainties regarding the Russia-Ukraine situation, have provided support for oil prices.
Market expectations of potential interest rate cuts in the U.S. may stimulate economic activity and boost oil demand, which also puts upward pressure on oil prices.
At the same time, Saudi Arabia's reduction of light crude oil prices for Asia, along with concerns about the global demand outlook, has limited the rise in oil prices.
Please note: International crude oil prices fluctuate frequently; the above information is based on the latest prices available at this time point (usually the previous trading day).
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