At the beginning of December, oil prices have soared by 2%, after OPEC+ members reaffirmed their intention to maintain stable production and that the Pipeline Consortium of Caspian stopped its exports following a major attack by drones and to the tensions between the United States and Venezuela that have generated supply concerns.

The price of Brent crude oil rose by $1.22, or 1.96%, to reach $63.60 per barrel at 07:32 GMT.

American crude oil West Texas Intermediate a won $1.22, or 2.08%, to reach $59.77.

Both contracts reached their highest level for over a week.

The two contracts were stabilized on Friday for the fourth month in a row, their longest streak of losses since 2023, expectations of a higher global supply weighing on prices.