Oil prices rise as fuel demand holds up despite surge in Omicron cases
Oil prices rose on Thursday to extend several consecutive days of gains, buoyed by data showing US fuel demand holding up well despite soaring Omicron coronavirus infections.
Brent crude futures rose 17 cents, or 0.2 per cent, to $79.40 a barrel at 0217 GMT, climbing for a fourth day in a row.
US West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3 per cent, to $76.79 a barrel for a seventh straight session of gains.
US Energy Information Administration data on Wednesday showed crude oil inventories fell by 3.6 million barrels in the week to Dec. 24, which was more than analysts polled by Reuters had expected.
