Brent: prices remain on mid-2015 highs

Quotations of oil futures fell on Tuesday, however, they remained on the mid-2015 highs. January futures for Brent crude oil fell in price by 0.53%, to 63.35 dollars per barrel. The spot price for Brent crude at the beginning of today’s European session is near the mark of 63.55 dollars per barrel after the day before the price reached the high of 2017 near the mark of 64.45 dollars per barrel.

Oil prices at the beginning of the week rose to their highest levels since 2015 due to the fact that the Saudi Crown Prince Mohammed bin Salman ordered the arrest of more than 50 people on suspicion of corruption, including members of the royal family, ministers and big businessmen.

 Oil prices also received support after Yemeni hussites rebels launched a ballistic missile in the vicinity of Riyadh, which was shot down in the vicinity of the capital. The tensions between Saudi Arabia and Iran, which supports the hussites, intensified. Both countries are members of OPEC.

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