The price of Brent crude oil was up to start Monday with gains with the sharp decline in the number of active oil rigs in the U.S., triggering the possibility that the glut of supply could decrease.

The international benchmark was trading at $26.97 per barrel at 0605 GMT on Monday for an 8.2% increase after it closed Friday at $24.93 a barrel.

American benchmark West Texas Intermediate (WTI), however, was trading at $20.80 a barrel at the same time for a 3.3% decline after ending Friday at $21.51 per barrel.

The number of oil rigs in the U.S.,

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