Oil prices edge higher after previous day's strong gains

Oil prices posted slight increases following a solid rise the day before, Report informs, citing trading data.

February Brent futures on the London ICE Futures exchange rose by $0.06 (0.09%) to $63.23 per barrel. January WTI futures on the NYMEX electronic platform increased by $0.10 (0.17%) to $59.42 per barrel.

Market attention remains focused on Venezuela, a major oil producer. On November 29, US President Donald Trump stated that the airspace over and around the country had been closed, heightening concerns about regional stability.

Meanwhile, OPEC+ ministers confirmed over the weekend that previously agreed oil production levels for 2026 will remain unchanged, with current quotas set to stay in place throughout the year.