SINGAPORE: Oil NSE 3.54 % gained more ground on Tuesday with prices trading close to last session’s one-month high on expectations that the Omicron coronavirus variant will have only a limited impact on global demand.
Brent crude rose 7 cents, or 0.1%, to $78.67 a barrel, by 0115 GMT. U.S. West Texas Intermediate (WTI) crude rose 18 cents, or 0.2%, to $75.75 a barrel, gaining for a fifth straight session.
Both markets were trading close to Monday’s peaks, their highest prices since late November.
England will not get any new COVID-19 restrictions before the end of 2021, British health minister Sajid Javid said on Monday, as the government awaits more evidence on whether the health service can cope with high infection rates.
