Kyiv.Ukraine.Ukraine Gate – December 28, 2021- According to stock trading data, oil prices rose slightly on Tuesday, December 28, after a sharp rise the previous day, on the hope of a limited impact of the Corona virus Omicron variable on fuel demand.
The price of a barrel of Brent February oil by 9:15 in Kyiv was $ 78.28 (+ 0.08%). A barrel of WTI February oil traded at $ 75.65 (+ 0.11%). Preliminary bidding on the benchmarks ended at $ 78.22 and $ 75.57, respectively.
“Concerns about Omicron around the world are easing, which raises some optimism about demand… Prices are expected to trade with a positive bias,” said Abhishek Chauhan, head of commodities at Swastika Investmart Ltd.
According to the British Minister of Health Sajid Javid on Monday, there will be no new restrictions on COVID-19 in England until the end of 2021, as the government is waiting for additional evidence of whether the health service can cope with high rates of infection.
However, the potential for price increases remained limited after US airlines canceled more than 1,300 flights on Sunday as COVID-19 reduced the number of available crews.
On Monday, the number of local symptomatic cases of coronavirus in China rose for the fourth day in a row, with Xian reporting new cases of infection, leaving 13 million residents blocked.
Oil prices have risen by about 50% this year, driven by renewed demand and limited supply by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC +.
Investors are waiting for the OPEC + meeting, at which the alliance will decide whether to continue the planned increase in production by 400 thousand barrels per day in February.
