Oil prices rise / The oil market is focused on the next step of OPEC Plus

Investors’ willingness to invest in the oil market is improving amid declining concerns about the Omicron strain, which is likely to cause severe disease and likely to have limited effects on global fuel demand, according to Fars News Agency’s International Economics Group. This led to an increase in oil prices in today’s trading.

Brent crude traded up 42 cents at $ 75.57 a barrel. This type of oil recorded a one percent increase in value on Friday.

US crude traded up 46 cents at $ 72.13 a barrel. This type of oil also recorded a one percent increase in trading on Friday.

Both oil indices rose about 8 percent last week, the first weekly gain in seven weeks. The two indices compensated for more than half of the damage caused by Omicron News, first published on November 25.

“Because the risk of serious illness in Omicron has been found to be very low, the sense of comfort has increased,” said Tatsu Fumi Okushi, chief economist at Nomura Security.

“The market focus has shifted to the next step of OPEC Plus,” he added.

Scientists in South Africa said on Friday that they had seen no sign that the micron strain was causing a more serious illness.

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