Oil recoups losses from Friday, focusing on Omicron spread, Iran talks

TOKYO: Oil prices rose on Monday, recouping some losses after Friday’s plunge of about $10 a barrel, as investors looked for bargains but remained cautious with the focus on the Omicron coronavirus variant and Iran nuclear deal negotiations.

Brent crude futures climbed $3.05, or 4.2 per cent, to $75.77 a barrel by 0014 GMT, after falling $9.50 on Friday.