Oil will return to $ 72 on Omicron Hope and Iran talks

On June 9, 2016, during a visit to the Department of Energy’s Strategic Petroleum Reserve in Freport, Texas, USA, the picture shows crude oil pipes and valves. REUTERS / Richard Carson

LONDON, Dec. 6 (Reuters) – Oil prices rose $ 2 a barrel to $ 72 a barrel on Monday. If the Omicron Coronavirus variant is often mild and Iran’s oil exports are expected to increase soon, the economic impact will be minimal. He stepped back.

According to reports from South Africa, the cases of omega-3s show only minor symptoms, and Anthony Fawchi, a senior communicable disease official in the United States, told CNN that he did not appear to be overweight. Read more

Brent crude gained $ 1.35 per barrel or 1.9 percent to $ 71.23 at 1439 GMT, while US West Texas Medium crude rose $ 1.43 or 2.2 percent to $ 67.69. Both measures fell for the sixth week in a row last week.

“If Omicron is proven to be less aggressive in the coming days – or weeks – even more contagious, we can say that last week’s 100% low prices were a quarterly bargain,” said Jeffrey Haley, a brokerage analyst. Oanda

Brent is up 38% this year, backed by output constraints led by the OPEC + Manufacturers Group, although it fell to a three-year high of more than $ 86 in October.

“Traders are removing the initial shock of the Omicron difference,” said Louis Dixon, of Restad Energy. “He now appears to be convinced that the oil market has a high price point.”

Last week, in January, OPEC + partners with OPEC and Russia decided to increase their monthly supply by 400,000 barrels. Read more

On Sunday, Saudi Arabia’s exports to Asia and the United States increased by up to 80 cents from January. Read more

A.D. Oil was bought in the wake of last week’s indirect US-Iranian talks to end Iran’s nuclear deal, with Iran’s hopes of increasing oil exports dwindling. Read more

Additional Report by Florence Tan Correction by Edmund Blair and David Goodman

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