SINGAPORE: Oil NSE -0.58 % prices edged up on Tuesday after a near 5% rebound the day before as concerns about the impact of the Omicron variant on global fuel demand eased while Iran nuclear talks hit roadblocks, delaying the return of Iranian crude supplies.
Brent crude futures rose 34 cents, or 0.5%, to $73.42 a barrel at 0124 GMT, after settling 4.6% higher on Monday. U.S. West Texas Intermediate crude was at $69.92 a barrel, up 43 cents, or 0.6%, building on a 4.9% gain in the previous session.
Oil prices were pummelled last week over concerns that vaccines might be less effective against the new coronavirus variant Omicron, sparking fears that governments may re-impose restrictions to curb its spread and hit global growth and oil demand.
