On Tuesday morning, crude oil prices experienced an uptick in anticipation of the Christmas holiday and an optimistic short-term market perspective. Brent crude increased by 0.7%, reaching $73.11 per barrel, while West Texas Intermediate crude also saw a 0.7% increase, trading at $69.71 per barrel. Analysts, as reported by Reuters, predict that benchmark prices will hover around these levels in the near term due to reduced activity in the paper markets and as market participants remain cautious, awaiting a clearer understanding of the global oil market balances for 2024 and 2025.