Oil Extends Gains Above $70 on Signs Omicron Concerns Overdone - Bloomberg

Oil Extends Gains Above $70 on Signs Omicron Concerns Overdone - Bloomberg

PRICES
West Texas Intermediate for January climbed 1.7% to $70.69 a barrel at 7:35 a.m. London time on the New York Mercantile Exchange after advancing 4.9% on Monday. Brent for February settlement rose 1.6% to $74.21 on the ICE Futures Europe exchange after surging 4.6% on Monday. The prompt timespread for Brent was 40 cents in backwardation, compared with $1.34 at the start of last month.