Crude futures Brent rose $ 2.36, or 3.2%, to $ 75.44 a barrel, after closing with a 4.6% advance on Monday.
US West Texas Intermediate gained $ 2.56, or 3.7%, at $ 72.05 a barrel., expanding the rise of 4.9% of the previous session. Both contracts rose more than $ 3 at the start of the round.
Oil prices fell sharply last week on concerns that vaccines will be less effective against omicron, sparking fears that governments may re-impose restrictions to slow its spread and affect global growth and demand. of oil.
However, a South African health official reported over the weekend that omicron cases there had only shown mild symptoms. In addition, America’s top infectious disease official, Anthony Fauci, said there does not appear to be “a high degree of severity” so far.
In another sign of confidence in oil demand, the The world’s top exporter, Saudi Arabia, raised monthly crude prices on Sunday.
That came after the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC +, agreed to continue increasing production by 400,000 barrels a day in January despite the release of strategic US oil reserves.
Also, a delay in the return of Iranian oil to the market supported prices. Indirect nuclear talks between the United States and Iran, which have run into a number of obstacles, will resume on Thursday, Islamic republic news agencies reported.
Source From: Ambito
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