Oil prices rose during early trading on Wednesday, after rising more than one percent in the previous session due to fears of global trade disruption and geopolitical tension in the Middle East following Houthi attacks on ships in the Red Sea.
Price action
By 0137 GMT, Brent crude futures rose six cents, or 0.1 percent, to $79.29 per barrel, while US West Texas Intermediate crude recorded $74.11 per barrel, up 17 cents, or 0.2 percent.
On Tuesday, Washington formed a task force to protect trade in the Red Sea, as attacks by Yemeni militants forced major shipping companies to change their routes, raising fears of continuing disruptions in global trade.
