Oil prices were little changed on Tuesday as investors focused on geopolitical tensions in the Middle East and optimism that the US Federal Reserve will soon start cutting interest rates, contributing to higher global economic growth and boosting demand.
Brent futures fell 26 cents, or 0.3 percent, to 79.13 dollars a barrel by 0115 GMT, while the price of WTI reached 73.59 dollars a barrel, up by three cents.
Trading volume is weak as some markets are still closed for the Christmas holiday.
Both stocks gained almost three percent last week after Houthi attacks on ships in Yemen disrupted global shipping and trade, increasing tensions in the Middle East as the conflict between Israel and Gaza continues.
