Oil Futures Nears One-Month High

Crude oil nears one month high on Tuesday with prices close to one month’s high as traders priced in omicron variant will have limited impact on demand for oil.

The WTI futures inched up by 0.37% to $75.83 and the Brent futures inched up by 0.24% to $78.79.

Both futures peaked to late November’s high.

England announced earlier there will not be any new COVID-19 restrictions before the end of 2022.

Earlier in the U.S. thousands of flights were cancelled before the end of the year due to surging omicron cases which had substantial impact on the price of oil on Monday.