LONDON, December 24. /TASS/. The price of Brent crude rose below $38 per barrel in the course of trading on ICE exchange in London on Thursday.

As of 7:30 pm Moscow time the cost of the futures contracts of Brent crude oil for February 2016 delivery on London's ICE trading went up by 1.736% to $38.02 per barrel.

Earlier the price of Brent crude breached the $37 per barrel mark.

Crude oil prices are rising amid falling US oil reserves, which slipped by 5.90 mln barrels to 484.80 mln barrels in the week ended on December 18.