Global crude oil prices rose nearly 1% on Thursday, December 26, amid thin holiday trading. Optimism around potential fiscal stimulus in China, the world’s largest oil importer, and a reported drop in U.S. crude inventories supported the increase. Brent crude futures climbed 0.7% to $74.06 per barrel, while U.S. West Texas Intermediate crude rose 0.9% to $70.72. In India, crude oil futures on the Multi-Commodity Exchange (MCX) edged 0.1% higher, trading at ₹5,986 per barrel. The market remains watchful of China’s economic policy and U.S. inventory data, which continue to influence global oil dynamics.
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