Oil prices are rising on Thursday on new signals that the spread of the omicron COVID-19 strain will not have such serious consequences for the global economy as initially expected, Interfax reported.
On the eve of the American Pfizer and the German BioNTech SE published preliminary results of laboratory studies regarding the effectiveness of the vaccine against the omicron strain. Studies have shown that three doses of the vaccine provide the same level of protection against omicron as two doses against the common COVID-19 virus.
«Traders are beginning to realize that while the omicron may lead to some weakening in demand, the impact will not be as dire as expected», Phil Flynn, senior oil analyst at Price Futures Group, said.
The cost of February Brent oil futures on the London ICE Futures exchange by 8:15 Moscow time on Thursday is $ 76.42 per barrel, which is $ 0.6 (0.79%) higher than the price at the close of the previous session. As a result of trading on Wednesday, these contracts rose by $ 0.38 (0.5%) – to $ 75.82 per barrel.
The price of WTI crude oil futures for January in electronic trading on the New York Mercantile Exchange (NYMEX) is by this time $ 73.06 per barrel, which is $ 0.7 (0.97%) higher than the final value of the previous session. By the close of trading on Wednesday, the value of these contracts increased by $ 0.31 (0.4%) and amounted to $ 72.36 per barrel.
