Crude oil futures declined in mid-morning trade in Asia Dec. 14, as recent reports showing a growing impact from the COVID-19 omicron variant threat overshadowed a bullish outlook from OPEC’s latest monthly report. ]
At 9:56 am Singapore time (0156 GMT), the ICE February Brent futures contract was down 18 cents/b (0.24%) from the previous close to $74.21/b, while the NYMEX January light sweet crude contract fell 14 cents/b (0.2%) at $71.15/b. Oil markets saw choppy trading during the Dec. 13 session, as risk-on sentiment earlier in the day was later overshadowed by growing concerns of a hit to oil demand from the omicron variant. Despite rising by close to 2% in the Asian session Dec. 13, crude prices later pared gains to end the day in the red. The declines came as the UK Dec. 13 reported […]