Oil prices saw gains of nearly 4% today despite rising Omnicron cases and a tight crude supply. Brent saw day-over-day gains of $2.85 to settle at $83.72 the highest settlement since early November of 2021. Meanwhile, WTI saw gains of $2.99 to settle at $81.22 also settling at its highest price since mid-November of 2021.
“Omicron has yet to wreak the havoc of the Delta variant and may never do so, keeping the global recovery on track,” said Jeffrey Halley, an analyst at brokerage OANDA