Oil prices rose on Tuesday, trying to recover from the prior session's sell-off driven by Omicron fears, Trend reports citing Xinhua.
The West Texas Intermediate for February delivery added 2.51 U.S. dollars, or 3.7 percent, to settle at 71.12 dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery increased 2.46 dollars, or 3.4 percent, to close at 73.98 dollars a barrel on the London ICE Futures Exchange.
On Monday, the U.S. crude benchmark and Brent dropped 3.7 percent and 2.7 percent, respectively, as investors were worried that a rapid spread of the Omicron variant would dent the prospects of fuel demand.