Oil prices rise as U.S. fuel demand jumps despite virus surge
Published by
Reuters UK

By Jessica Jaganathan SINGAPORE (Reuters) -Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world’s top oil consumer even as the Omicron variant of coronavirus threatens to dent oil consumption globally. A signal by the U.S. Federal Reserve to tackle inflation before it derails the U.S. economy also boosted prices. Brent crude oil futures rose by 65 cents, or 0.9%, to $74.53 a barrel by 0436 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased by 74 cents, or 1%, to $71.61. “Despite the current virus surge, the weekly EIA oil…

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