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Crude oil rises on supply and Omicron

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Crude oil prices have decreased. Various countries start to lockdown in response to the omicron variant. This way let people worry about the fuel supply. According to the reports of the COVID-19 vaccine against the new virus variant, this decreases people's worry about the fuel demand. And U.S. crude supplies fell slightly. OPEC+ will keep the floor under prices by keeping the door open to a possible reversal of its planned supply hike. Omicron's concerns haven't completely faded. The UK has tightened pandemic rules. They hope people work at home to decrease the variant spread. The US storage hub crude oil stockpiles rose by 2.3 million barrels, and gasoline inventories climbed by 3.88 million barrels.


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