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Oil rises on easing Omicron fears and Iran delay

From financialpost.com

Oil prices rose nearly $2 on Tuesday, extending the previous day’s almost 5% rebound as concerns over the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Brent crude futures were up $1.67, or 2.3%, at $75.75 a barrel by 1323 GMT, having registered a 4.6% gain on Monday. U.S. West Texas Intermediate crude was up $1.90, or 2.7%, at $71.39, building on a 4.9% gain in the previous session. Oil prices were pummeled last week by concerns that vaccines might be less effective against the Omicron variant, sparking fears that ... (full story)

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  • Category: Fundamental Analysis