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The price of a barrel of Brent for delivery in January ended Monday on the London futures market at $ 60.48, or 2.85% more than at the end of the previous session.
(Read: Dark day for "black gold")
North Sea crude, a benchmark for Colombia, closed the day on International Exchange Futures with a $ 1.68 increase over the last exchange, where it closed at $ 58.80.
The price of Brent helped recoup some of the land lost last week, falling to levels never seen since November 2017 due to surging crude oil exports from Saudi Arabia and Russia.
Although the market remains under pressure due to fears of a slowdown in global growth that affects oil demand and excess supply, the price has risen, motivated by the forecast of increase US reserves. .
While the price of Texas Intermediate Oil (WTI) rose 2.40% and stood at 51.63 dollars a barrel a day, affected by expectations of lower oil production.
At the end of daily trading on the New York Mercantile Exchange (Nymex), WTI futures for January delivery totaled $ 1.21 over last Friday's trading session.
The International Energy Agency predicts that global demand for crude oil will exceed 100 million barrels a year in 2019. A strong dollar, higher costs for credit and the threat to global growth due to the Intensification of trade conflict between the United States and China have alienated badet investors more in tune with the global economy, such as stocks or oil.
In November alone, hedge funds withdrew more than $ 12 billion from the oil market, calculated on the basis of a record decline in holdings and long options Brent and WTI compared to the average crude oil price for the month.
According to Fitch Solutions badysts, even the expected reduction in supply that OPEC would apply after its December 6 meeting "may not be enough to counterbalance the downside."
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