Oil prices rose more than 3 percent at the settlement today, recovering from a sharp decline witnessed in the previous session, with improved risk appetite, despite concerns about “Omicron”.
Brent crude futures rose two dollars and 46 cents, or 3.4 percent, upon settlement to $73.98 a barrel.
And US West Texas Intermediate crude futures rose two dollars and fifty-one cents, or 3.7 percent, upon settlement to $71.12 a barrel.
With investors worried about the rapid spread of the Omicron strain globally, Tamas Varga, an oil analyst at brokerage BVM Oil Associates, said in London that “the improvement is likely to be limited, and the imposition of more restrictions will be offset by selling.” New”.
Source: “Reuters”
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