LAST UPDATE 22:35
Oil prices rallied on Tuesday amid optimism that the possible shocks to the economy from the micron mutation will be short-lived and will not affect the course of demand.
In particular, the crude for February delivery gained $ 2.99 or 3.8% and closed at $ 81.22 a barrel on the New York Mercantile Exchange. This is the highest level since November 11.
Brent crude for March delivery rose $ 2.85, or 3.5 percent, to $ 83.72 a barrel on the ICE Futures level, climbing to a nine-month high.
Both contracts earn almost 8% to date in 2022.
Federal Reserve Chairman Jerome Powell said in a statement to Congress today that the economic impact of the micron is expected to be short-lived, adding that the coming quarters may be particularly supportive of the economy as the micron weakens.
Despite the eruption of cases due to the micron, developed economies have avoided severe lockdowns that have led in the past to a dramatic contraction in economic activity and a deep recession in their economies.
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