Black gold returned to stable trading after falling last week as concerns over geopolitical tensions continued to plague the market.
Ahead of the opening of the European session, Brent crude futures traded slightly higher at $ 88.40 a barrel. Meanwhile, US WTI trading rose to $ 85.60 a barrel.
Both benchmarks have soared to their latest seven-year highs in the past week, before declining due to profit-taking by investors pushing the black commodity trading slightly lower.
Still, concerns over crude oil supply disruptions continue to haunt the market, especially after US President Joe Biden was reportedly considering deploying several thousand of his troops to NATO allies in Eastern Europe and the Baltic.
This caused black commodity trading to regain demand to rise again approaching the highs reached last week.
The International Energy Agency (IEA) said last week that OPEC+ failed to meet its production target of 790,000 barrels a day in December as West African producers, namely Nigeria and Angola, struggled to increase production.
