Oil edges lower as investors weigh demand risk from Omicron

Daily Omicron infections continue to multiply in China and the US as investors worry and crude prices dip.

Photo: Gregory Bull/AP/Ritzau Scanpix

Oil edged lower amid nervousness around the rapid spread of the Omicron virus variant and strength in the dollar.

Brent reversed earlier gains to trade 0.2 percent lower. West Texas Intermediate, which didn't trade Friday due to a US holiday, fell. An advance in the dollar reduced the appeal of commodities like oil that are priced in the currency.

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