Oil extends gains above USD 70 on signs Omicron concerns overdone
Concerns of the Omicron variant have abated, leading oil futures to close 5 percent higher on Monday. The optimism will be "highly susceptible to even hints of the Omicron's destructive power", according to analyst.
BY SHARON CHO, BLOOMBERG
Oil extended gains on optimism the omicron virus variant may not be as bad as anticipated, easing concern over the demand outlook.
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