Oil Prices Edge Up As Omicron Fears Ease, Iran Talks Hit Roadblocks
The Straits Times|December 08, 2021
Oil prices edged up yesterday after a near 5 per cent rebound the day before, as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased, while Iran nuclear talks hit roadblocks, delaying the return of Iranian crude supplies.
Oil Prices Edge Up As Omicron Fears Ease, Iran Talks Hit Roadblocks

Brent crude futures rose 60 US cents, or 0.8 per cent, to US$73.68 a barrel at 0520 GMT, after settling 4.6 per cent higher on Monday. US West Texas Intermediate crude was at US$70.23 a barrel, up 74 US cents, or 1.1 per cent, building on a 4.9 per cent gain in the previous session.

Oil prices were pummelled last week over concerns that vaccines might be less effective against the Omicron variant, sparking fears that governments may reimpose restrictions to curb its spread and hit global growth and oil demand.

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