West Texas Intermediate crude (WTI) closed up $2.56 at $72.05 a barrel. Get support for investors to ease concerns about Covid O Micron And news reports of nuclear deal negotiations between Iran and the West have been halted.
New York’s West Texas Intermediate Crude Oil (WTI) ended higher than $72 last night, boosted by investors. Allay concerns about the impact of the Covid-19 virus. Omicron species Including news reports of negotiations on a nuclear deal between Iran and the West have been halted.
WTI crude oil contract for delivery in January It was up $2.56, or 3.7%, at $72.05 a barrel. This is the highest closing level since Nov 24, 2021.
Brent crude oil contract (BRENT) for delivery in Feb. It was up $2.36, or 3.2%, at $75.44 a barrel. This is the highest closing level since Nov 25, 2021.
The oil market continued to gain positive factors as investors eased concerns about the Omicron virus situation. It was also supported by negotiations on a nuclear deal between Iran and the West. This will cause Iran to delay the return of oil exports to the world market.
In addition, Saudi Arabia’s announcement of an increase in crude oil prices for the month of January 2022 For customers in Asia and the US It is a reflection of confidence in the demand for oil in the market.
Investors Keep an Eye on the Weekly US Crude Stock Report The US Energy Information Administration (EIA) is scheduled to release the information today.Analysts predict that US crude inventories are down 1.2 million barrels in the week ending Dec. 3.
photo from AFP
