Oil price hike Oil price hike


Oil prices ended a choppy trading session higher to maintain a positive trend as investors became less concerned about the impact of the coronavirus Omicron mutation on global economic growth and fuel demand.

The global benchmark Brent crude contracts ended the trading session up 38 cents, or 0.5 percent, to settle at $75.82 a barrel.

US West Texas Intermediate crude contracts closed 31 cents, or 0.43 percent, at $72.36 a barrel.

Brent has risen about 10 percent since December 1, on expectations that Omicron will have only a limited impact on oil demand, after a 16 percent drop since November 25.

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