Oil rose 3 last week
HapagLloyd to decide on Wednesday about Red Sea routes
Iran denies US claim it targeted tanker near India
Trade thin because some markets closed for public holiday

LONDON, Dec 26 Reuters Oil steadied on Tuesday, finding support from geopolitical tensions in the Middle East and investor optimism that the U.S. Federal Reserve would soon start cutting interest rates, boosting global economic growth and fuel demand.

While hopes of rate cuts and conflict in the Red Sea have led to a rebound in crude prices, Maersk39;s announcement of a restart of shipping routes through the waterway has alleviated supply concerns to a certain extent, said CMC Market analyst Leon Li.

Brent crude futures rose 10 cents, or 0.1, to 79.17 a barrel by 0930 GMT while U.S. West Texas Intermediate crude slipped 25 cents, or 0.3, to 73.31.

Trade is thin because some markets are closed for public holidays.

Both oil benchmarks registered gains of about 3 last week after Houthi attacks on ships disrupted global shipping and trade while the IsraelHamas conflict shows no sign of easing.

Shipping companies had stopped sending vessels through the Red Sea and imposed surcharges for rerouting ships. The Red Sea connects with the Suez Canal, a major shipping route used for about 12 of global trade.

Maersk39;s statement on Sunday cited deployment of a USled military operation designed to ensure the safety of commerce in the area.

Germany39;s HapagLloyd will decide on Wednesday how…