Oil prices rose Monday after data showed a weekly decline in the number of U.S. drilling rigs.
The number of rigs operating in U.S. oil fields unexpectedly fell by five to 742 last week, oilfield service firm Baker Hughes said in its weekly report on Friday.
Meanwhile, traders kept a close eye on the political tensions in Iran. Over the past week, protests erupted in a number of Iranian cities against the government's economic policies.
At least 20 people, including civilians and policemen, were killed and dozens of others were injured during violent clashes between the protesters and security forces, according to unofficial reports.
The West Texas Intermediate for February delivery increased 0.29 U.S. dollar to settle at 61.73 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery added 0.16 dollar to close at 67.78 dollars a barrel on the London ICE Futures Exchange.
The number of rigs operating in U.S. oil fields unexpectedly fell by five to 742 last week, oilfield service firm Baker Hughes said in its weekly report on Friday.
Meanwhile, traders kept a close eye on the political tensions in Iran. Over the past week, protests erupted in a number of Iranian cities against the government's economic policies.
At least 20 people, including civilians and policemen, were killed and dozens of others were injured during violent clashes between the protesters and security forces, according to unofficial reports.
The West Texas Intermediate for February delivery increased 0.29 U.S. dollar to settle at 61.73 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery added 0.16 dollar to close at 67.78 dollars a barrel on the London ICE Futures Exchange.
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