The world price of oil on December 29; Brent was 80 dollars and 79 cents

reported by Mehr News Agency quoted Reuters, the price of oil decreased slightly, but recorded the fourth weekly increase. New US sanctions against Russia’s energy trade have raised concerns about supply disruptions.

The price of a barrel of Brent oil in the North Sea decreased by 50 cents, equivalent to 0.62%, to 80 dollars and 79 cents. US West Texas Intermediate oil is traded at 80 cents, equivalent to 1.02% decrease, to 77 dollars and 88 cents.

Analysts believe that the new US sanctions against Russian oil producers and tankers will challenge the supply of oil in Europe, India and China.

Investors are also weighing the potential impact of Donald Trump’s return to the White House on Monday. Trump’s nominee for the Treasury Department said he is ready to impose tougher sanctions against Russian oil.

On the other hand, the expectation that Yemen will stop attacks on ships in the Red Sea following the signing of a cease-fire agreement in Gaza has also affected oil prices. Yemen’s attacks have disrupted global shipping and forced ships to travel longer and more expensive routes around the African continent over the past year.

The security cabinet of the Zionist regime approved the ceasefire agreement on Friday and opened the way for the return of the first prisoners from Gaza on Sunday.

But the expectation of increased demand partially supported the oil market on Friday. Last week, American economic data indicated a decrease in inflation in the world’s largest economy, which increased the possibility of interest rate cuts again.

Traders are also checking economic data from China as the world’s largest oil importer.