Oil Prices Rise Ahead of Holidays

Oil prices surged on Christmas Eve, with the front-month February contract for Light Sweet Crude closing at $58.62 per barrel, up $0.24 from the previous day. March and April futures also saw modest gains, reflecting steady demand signals amid holiday trading. Volumes were lighter, but traders are watching these upticks closely due to global supply concerns and winter heating demand. Pump prices may hold steady or edge up slightly after the holidays, impacting travel budgets. Later contracts also climbed, with December 26th at $57.93 and December 29th reaching $61.05. Open interest dipped, and well monitor how these trends play out as markets close the year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.