Brent crude rises to $62.32 per barrel

Oil prices rose slightly on Friday amid weak trading activity, ending the week with their highest gains since late October, Report informs referring to trading data.

There was no trading the day before, as US and European exchanges were closed for Christmas.

The price of February Brent crude oil futures on London's ICE Futures exchange was $62.32 per barrel, up $0.08 (0.13%) from the previous close.

WTI crude oil futures for February on the New York Mercantile Exchange (NYMEX) electronic trading have risen by $0.07 (0.12%) to $58.42 per barrel.

Since the start of the week, Brent and WTI prices have risen more than 3%.

Traders are monitoring the situation around Venezuela after the US imposed a blockade on all sanctioned oil tankers heading to or leaving the country.