{"id":457758,"date":"2021-12-22T08:55:33","date_gmt":"2021-12-22T03:25:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=457758"},"modified":"2021-12-22T09:50:21","modified_gmt":"2021-12-22T04:20:21","slug":"oil-prices-settle-higher-but-market-wary-of-omicron-coronavirus-variant","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-settle-higher-but-market-wary-of-omicron-coronavirus-variant\/","title":{"rendered":"Oil prices settle higher, but market wary of Omicron coronavirus variant"},"content":{"rendered":"<p>Oil prices settled more than 3% higher on Tuesday, rebounding on renewed risk appetite the day after a sharp fall, but investors remained cautious as the Omicron coronavirus variant cut holiday travel plans, dimming the near-term fuel demand outlook.<\/p>\n<p>&#8220;This is a pragmatic market that wants to be bullish but knows relief rallies, like the one this morning, will not last,&#8221; said Tamas Varga, oil analyst at London brokerage PVM Oil Associates. <\/p>\n<p>&#8220;The upside is likely to be limited and more restrictions will be greeted with renewed selling,&#8221; he added.<\/p>\n<p>Brent crude settled up $2.46, or 3.4%, at $73.98 a barrel, and U.S. West Texas Intermediate (WTI) crude rose $2.51, or 3.7%, to $71.12 a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices settled more than 3% higher on Tuesday, rebounding on renewed risk appetite the day after a sharp fall, but investors remained cautious as the Omicron coronavirus variant cut holiday travel plans, dimming the near-term fuel demand outlook. &#8220;This is a pragmatic market that wants to be bullish but knows relief rallies, like the one this morning, will not last,&#8221; said Tamas Varga, oil analyst at London brokerage PVM Oil Associates. &#8220;The upside is likely to be limited and more restrictions will be greeted with renewed selling,&#8221; he added. Brent crude settled up $2.46, or 3.4%, at $73.98 a [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-457758","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/457758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=457758"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/457758\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=457758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=457758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=457758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}