Oil eases ahead of Christmas break on possible future Angola output increase

Oil prices rose on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices.

Brent crude futures were up 92 cents, or 1.2%, to $80.31 a barrel at 1445 GMT.

U.S. West Texas Intermediate (WTI) crude futures were up $1.02, or 1.4%, at $74.91 a barrel.