Oil climbs as investors focus on looming OPEC+ decision | Reuters
Oil prices rose on Thursday as investors adjusted positions ahead of an OPEC+ decision on supply policy, though gains were capped by fears that the Omicron coronavirus variant could hit fuel demand.
Brent crude futures rose 35 cents, or 0.5%, to $69.22 a barrel by 1215 GMT while U.S. West Texas Intermediate (WTI) crude futures gained 29 cents, or 0.4%, to $65.86.
Global oil prices have lost more than $10 a barrel since last Thursday, when news of Omicron first shook investors.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, are likely to decide on Thursday whether to release more oil into the market as previously planned or to restrain supply. read more
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