Oil prices rise as Omicron fears ease

2021-12-28 07:12

Already collect

NEW YORK, Dec. 27 (Xinhua) -- Oil prices climbed on Monday, bolstered by optimism that the Omicron variant may have a limited impact on global demand outlook.

The West Texas Intermediate for February delivery added 1.78 U.S. dollars, or 2.4 percent, to settle at 75.57 dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery increased 1.75 dollars, or 2.3 percent, to close at 78.60 dollars a barrel on the London ICE Futures Exchange.

Prices garnered some support from market hopes that the impact of the Omicron variant may not affect energy demand as much as feared, experts noted.

Last week, the U.S. crude benchmark rose 4.3 percent, while Brent jumped 4.5 percent, based on front-month contracts.
Add comments

Latest comments

Latest News
News Most Viewed