SULAIMANI (ESTA) — Oil prices were mixed on Tuesday, as investors remained worried about the rapid spread of the Omicron variant globally.
Brent crude futures increased by 73 cents to $72.25 a barrel by 0418 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $2.63 cents to $68.23 per barrel.
“After a rough couple of days, crude prices are rebounding as much of the COVID wall of worry has been priced in,” Reuters quoted senior analyst at OANDA Edward Moya as saying.
“The short-term hit to economic growth from border closing is still unknown and oil prices will remain sensitive to any stricter requirements with travel,” Moya said.
Many nations are on high alert just days ahead of Christmas and New Year celebrations, with Omicron infections multiplying rapidly across Europe, the United States and Asia, according to Reuters.
In Japan, a single cluster at a military base has grown to at least 180 cases.
Still, Moderna Inc said on Monday that a booster dose of its coronavirus vaccine appeared to be protective against the fast-spreading Omicron variant in laboratory testing, providing some hope to investors.
