Oil Prices Bounce Back As Omicron Fears Fade

A flood of bullish factors have sent oil prices higher at the start of the week, with fears about Omicron fading on the back of some promising reports. Chart of the Week- The purported aim of the US government’s decision to release 50 million barrels of crude in January-April 2022 – to bring gasoline prices – seems to be slowly materializing.- The OPEC+ decision to maintain their agreed-upon 400,000 b/d production additions helped more in outright terms, dragging WTI prices down to $70 per barrel, as crude prices heavily influence…