Benchmark oil prices are moderately rising on the morning of December 24, recovering after a slight decline at the end of the previous session, Report informs via Interfax.

February Brent futures on the London ICE Futures exchange rose by $0.35 (0.48%) to $72.98 per barrel by 9:15 (GMT+4).

The day before, these contracts decreased in price by $0.31 (0.4%) to $72.63 per barrel.

February WTI futures quotes on the New York Mercantile Exchange (NYMEX) electronic trading increased by $0.30 (0.43%) to $69.54 per barrel by the specified time.

The day before, futures fell by $0.22 (0.3%) to $69.24 per barrel.

Oil quotes are under pressure due to concerns about economic growth in China, the world's largest oil importer, as well as the strengthening of the US dollar, which reduces the investment attractiveness of commodities for holders of other currencies. Trading volume this week may be lower and volatility higher due to the celebration of Catholic Christmas, for which many world exchanges will be closed on December 25.