The oil price rose slightly on Monday. La The rise of protests in Iran has raised concerns about supplies from this OPEC producer, while efforts to resume oil exports from Venezuela and the forecasts of a Oversupply on the market this year limited the gains.

The price of Brent crude oil increased by 5 cents to reach $63.39 per barrel at 4:33am GMT, while crude oil American West Texas Intermediate stood at 59.16 dollars per barrel, in Increase of 4 cents.

Both contracts grew by more than 3% the last week, registering their largest weekly increase since October, as the Iranian clerical regime intensified its repression against the most important protests since 2022.

According to Saul Kavonic, Research Manager energy at MST Marquee, although a premium has been formed on the prices of Oil in recent days, the market is still underestimating the geopolitical risk linked to a wider conflict with Iran, which could impact shipments of oil in the Strait of Hormuz.