Oil posted a fourth straight weekly gain, the longest winning streak since October, on signs that the market is tightening as global consumption withstands the impact of the omicron virus variant. West Texas Intermediate futures in New York closed up 2.1% on Friday, posting a 6.2% weekly increase. Oil has made a strong start to the year, underscored by depleting U.S. inventories and product demand at multi-year highs. “The picture for oil is getting better because people are looking past the omicron variant and looking to reopen and a rebound in activity, much like we saw coming out of August,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. Crude has clawed back most of its losses late last year that were driven by omicron and the White House-led releases from national oil reserves. Although it has proved to be fast-spreading, the variant also appears to be […]