Oil prices declined over half a percent as investors monitor Red Sea developments through trade route

Oil prices declined over half a percent yesterday as investors monitored Red Sea developments, with some major shippers resuming passage through the trade route despite continued attacks.

 

In intra-day



trade, Brent crude was trading at 80 dollars and 65 cents per barrel, while U.S. West Texas Intermediate crude was trading at 75 dollars and 09 cents per barrel when reports last came in.