LAST UPDATE 22:45
Oil traded higher on Monday after a 13% drop in Friday’s rally as investors continued to watch developments around the coronavirus’s Micron mutation and the chances of hurting economic activity and oil demand in the coming months. .
New York Mercantile Exchange gained $ 1.80, or 2.6%, to close at $ 69.95 a barrel on the New York Mercantile Exchange. after Friday’s slump by 13.1%. At the high of the day the contract climbed to 72.93 dollars.
Brent January, which ends with the completion of trading tomorrow, added 72 cents or 1% to $ 73.44 a barrel on ICE Futures. On Friday, the contract fell 11.6%.
US President Joe Biden today sought to reassure Americans that the United States is prepared to manage the new Omicron variant, stressing that “there is no reason to panic.”
Speaking at the White House, Biden said “this variant is a cause for concern, but not a cause for panic,” adding that his government is working with the pharmaceutical industry to develop alternative plans if needed.
The American president also reiterated his call for all citizens to be vaccinated and to wear masks indoors and in public places, warning that “sooner or later we will see cases of the new variant here in the USA as well”.
Meanwhile, January gas fell 11.4 percent to $ 4,854 a million British thermal units, after jumping 7 percent on Friday, with analysts attributing heavy losses to warmer weather forecasts in large parts of the world. USA.
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