Friday 24 December 2021

Oil prices ease, focus shifts to next OPEC+ move | Reuters

Oil prices ease, focus shifts to next OPEC+ move | Reuters

Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays, but the benchmark ended the week higher, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.

Brent crude futures settled 71 cents lower at $76.14 a barrel at the early close of 1300 GMT, rising by about 3% on the week.

U.S. markets are closed on Friday for the Christmas holiday.

Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.

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