Oil prices experienced a modest increase on Thursday, marking the first trading day of 2025. Investors returning from their holidays are closely observing the recovery of China's economy and the subsequent rise in fuel demand, following President Xi Jinping's commitment to enhance growth.
Brent crude futures saw an uptick of 46 cents, or 0.6%, reaching $75.10 per barrel, after a gain of 65 cents on Tuesday, the final trading day of 2024.
Meanwhile, US West Texas Intermediate (WTI) futures climbed by 49 cents, or 0.7%, to $72.21 per barrel, following a rise of 73 cents in the previous session.
