WTI Crude oil hit a fresh seven year high near $92 per barrel on Friday, soaring around 2% on the day. Demand remains supportive as Covid-19 cases are turning lower in major countries. The World Health Organization noted last week that some countries can now consider carefully relaxing the rules if they have high immunity rates, their health care systems are strong and the epidemiological trends are going in the right direction. The omicron cases count has also eased in many places, boosting the hopes of increased flow of travelers and thereby supportive fuel demand.
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