Oil prices stabilized on Thursday after falling to December lows at the end of the previous session.
The cost of April Brent futures on the London ICE Futures exchange was $74.67 per barrel, which is $0.06 (0.08%) higher than at the close of the previous trades. On Wednesday, these contracts fell by $1.59 (2.1%), to $74.61 per barrel.
WTI oil futures for March on the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price by $0.13 (0.18%), to $71.16 per barrel. At the end of the previous session, the cost of these contracts fell by $1.67 (2.3%), to $71.03 per barrel.