Oil continued to climb on optimism that the omicron virus variant may not be as severe as feared, easing concern over the demand outlook. West Texas Intermediate rose as much as 5.1% on Tuesday, before ending the day at around $72 a barrel. Crude’s advance mirrored a similar relief rally in equities , with the S&P 500 jumping 2.2% to the highest level since late November. Initial data show the surge in omicron cases hasn’t overwhelmed hospitals so far, and there’s little evidence of a significant hit to global oil consumption.