Oil prices rose by about 3% today, Monday, supported by hopes that the impact of the new Corona mutant “Omicron” will be limited on global demand in 2022.
Brent crude rose $2.46, or 3.23%, to $78.60 a barrel upon settlement.
The price of West Texas Intermediate crude also rose $1.78, or 2.41%, to $75.57 a barrel upon settlement.
Brent has risen more than 45 percent this year, supported by the recovery in demand and the reduction of its production by the “OPEC +” alliance.
Oil prices rose last week after preliminary data showed that the mutant “Omicron” causes moderate symptoms of the disease.
Today, talks between world powers and Iran resume in order to save the 2015 nuclear agreement, which may eventually lead to an increase in Iran’s oil exports.
Source: Reuters
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