Oil extended gains on optimism the omicron virus variant may not be as bad as anticipated, easing concern over the demand outlook.
Futures in New York advanced above USD 70 after closing almost 5 percent higher on Monday. Initial data shows that the surge in Omicron cases hasn't overwhelmed hospitals so far, but some nations have still implemented restrictions on travel that's expected to crimp jet fuel demand. Meanwhile, companies lodged bids Monday for crude set to be released from the US strategic reserve.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.