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WTI Crude Nears Two Month High As CDC Says Omicron Is Less Severe

WTI Crude Nears Two Month High As CDC Says Omicron Is Less Severe

January 14, 2022 5:45 IST | capital market
The WTI Crude oil futures stayed well supported today after a correction in last session as markets eyed media reports yet again confirming the relatively less severity of new Covid-19 variant Omicron. The rapidly spreading variant is significantly less severe than other strains of Covid-19, according to a report from the US Centres for Disease Control and Prevention (CDC). WTI Crude edged up as a rally above $80 per barrel stayed in place following this update even as equities saw a pullback. WTI Crude currently trades up 0.73% at $82.72 per barrel - approaching around two month high. MCX Crude oil futures are trading at Rs 6129 per barrel, up 0.79% on the day.

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