Oil prices continued to rise as the US market opened on Friday, rebounding for the second straight day after hitting a 4-month low, after OPEC-Plus left the door open to revising its current production policy if necessary, while continuing to monitor the Omicron variant impact on global fuel demand.

US crude rose 1.8% to $68.69 a barrel, after opening at $67.49, and hit a low at $66.46, and Brent crude rose 2.2% to $72.05 a barrel, after opening at $70.48, and hit a low at $69.54.

The US crude gained 2.6% yesterday after hitting a 4-month low at $62.46 a barrel, and Brent rose 2.3%, after hitting the lowest since August 23 at $65.79.

OPEC Plus held its monthly meeting of the joint ministerial committee yesterday and decided to keep production levels unchanged during January.

OPEC-Plus alliance announced will increase oil production by 400,000 bpd, in a weak response to the current developments.

These developments include the decision of major countries to tap their strategic oil reserves, and the new coronavirus variant "Omicron" that is expected to impact the global demand for fuel.

Meanwhile, the alliance left the door open to adjusting production levels if needed, while continuing to monitor the Omicron variant impact on global fuel demand.

Silver prices held on Thursday, in limited trading near the 2-month low hit yesterday, as investors shy away from building new positions ahead of US jobs data later today.

Silver prices held at $22.35 an ounce as of 11:17 GMT, after opening at $22.36, and hit a day high at $22.52 and a low at $22.21.

Silver gained 0.2% yesterday, after hitting a 2-month low at $22.18 an ounce.

Silver prices lost 4.5% during November, due to growing chances of a near interest rate hike in the US.

Now investors await crucial US jobs report, expected to show an addition of 553 thousand in November, with unemployment down to 4.5%, and average income up 0.4%.

The US dollar rose against a basket of currencies on Friday, rising for the third day in a row, as concerns over Omicron fade, while focus shifts on the Fed's bullish stance in monetary policy, ahead of US jobs data later today.

The dollar index rose 0.2% to 96.32 points, with an intraday low at 96.11, after rising 0.1% yesterday, following better-than-expected US weekly jobless claims reading.

The greenback is rising thanks to improved risk appetite as fears over Omicron variant faded, while focus shifts on the Fed's bullish stance in monetary policy, and the near interest rate hike.

South African scientists said the Omicron was first discovered last month, and that current vaccines should protect from extreme illness and death. While all the three cases in the US showed mild symptoms.

Otherwise, Fed San Francisco Governor Mary Dally said it's time to start planning for a rate hike to combat inflation.

Fed Chair Jerome Powell recently asserted they're preparing for a measure to cut bonds purchases in the December meeting. 

Now markets are fully pricing in a rate hike by 25 basis points in June 2022.

Investors await crucial US jobs report, expected to show an addition of 553 thousand in November, with unemployment down to 4.5%, and average income up 0.4%.

European shares rose in early trading on Friday, amid relatively improved risk appetite, which amid anticipation of the US monthly jobs report that provides insight over the US economic recovery and the timing of any upcoming interest rate hike.

The Stoxx Europe 600 index rose 0.3% as of 08:32 GMT, after closing lower by 1.1% yesterday, due to a sell-off in the tech sector.

The traveling sector saw the largest gains in Europe today, with a rise of nearly 2%, as fears over the Omicron variant eased.

South African scientists said the Omicron was first discovered last month, and that current vaccines should protect from extreme illness and death. While all the three cases in the US showed mild symptoms.

S&P 500 futures rose less than 0.1% today ahead of Wall Street's opening, after the index higher 1.4% lower yesterday and rebounded from a 6-week low.

Now investors await crucial US jobs report, expected to show an addition of 553 thousand in November, with unemployment down to 4.5%, and average income up 0.4%.

Back to Europe, the Euro Stoxx 50 index rose 0.3%, France's CAC 40 rose 0.25%, and Germany's DAX index rose 0.5%, while the UK's FTSE 100 rose 0.3%.