Brent crude price stabilizes at nearly $73 per barrel

Oil prices remained virtually unchanged on November 27 morning as investors evaluate signals about declining fuel reserves in the USA and news about a ceasefire between Israel and Lebanon, Report informs via Interfax.

The price of January Brent futures on the London ICE Futures exchange was $72.86 per barrel. This is 5 cents higher than the previous trading session's close.

WTI oil futures for January on the New York Mercantile Exchange (NYMEX) electronic trading rose by 2 cents to $68.79 per barrel.

Israeli military and Lebanese Hezbollah movement ceased hostilities early November 27 morning, US President Joe Biden announced.

Earlier, Israeli Prime Minister Benjamin Netanyahu noted that the duration of the ceasefire would depend on what happens in Lebanon, and if Hezbollah attempts to attack Israel and rebuild its infrastructure near the border, there will be retaliatory actions.