Oil prices edge higher but investor worries on Omicron spread remain
Oil prices edged higher on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand.
Brent crude futures increased by 9 cents, or 0.1%, to $71.61 a barrel by 0105 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose by 23 cents, or 0.3%, to $68.84 a barrel.
“It also looks increasingly likely that the UK will reimpose restrictions sometime after Boxing Day (Dec 26), with daily cases moving to record highs,” analysts from JBC Energy wrote in a note on Tuesday.
