Oil’s Red-Hot Rally Fizzles With Traders Reassessing Omicron Hit - Bloomberg

Oil’s Red-Hot Rally Fizzles With Traders Reassessing Omicron Hit - Bloomberg - Bloomberg

PRICES
West Texas Intermediate for January fell 0.3% to $70.70 a barrel on the New York Mercantile Exchange at 7:12 a.m. in London. Prices are up 6.7% this week. Brent for February settlement dropped 0.4% to $74.11 on the ICE Futures Europe exchange after sliding 1.9% on Thursday. The prompt timespread for Brent was 21 cents in backwardation, compared with $1.34 at the start of last month.