Oil prices set to end year 10% lower as demand concerns snap winning streak
Crude futures rose slightly on Friday in thin activity on the last trading day of the year.
Both benchmarks are set to end 2023 about 10% lower after two years of gains as geopolitical concerns and oil production cuts drove wild fluctuations in prices.
Brent futures rose 12 cents to $77.27 a barrel at 2:22 p.m. (1922 GMT) on Friday. U.S. West Texas Intermediate crude rose 16 cents to $71.93 a barrel.
Oil prices fell sharply on Thursday as some shipping companies said they would resume movements through the Red Sea, easing supply concerns.
