Oil steadies after data shows big increase in US stocks

Oil steadied after a two-day rally as an industry report pointed to the biggest gain in stockpiles at a key US storage hub since February.

Crude has surged more than 8% over the past two sessions — rising along with other financial assets — on cautious optimism that the Omicron virus variant is unlikely to derail the global economic recovery. There have been few deaths from the new strain so far and little sign of a major effect on oil demand.

China continues to tackle sporadic outbreaks, with one eastern city locking down on a district to curb the spread. Omicron has led to some restrictions on air travel, and researchers in SA said the strain’s ability to evade vaccine and infection-induced immunity is “robust but not complete”. They added that booster shots would likely reduce chances of infection.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Oil steadies after data shows big increase in US stocksAn industry report has pointed to the biggest gain in stockpiles at a key US storage hub since February I'm bless the day i invested in your platform because since then i have achieved greatness LindaStouffes
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Indonesia court rejects palm oil companies’ bid for permitsCompanies lose their court bid for plantation pernits to be reinstated
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

SA firm aims high in budding cannabis industry with R300m investment from a US company | Fin24JSE-listed industrial cannabis investment business Labat Africa has announced that it has scored a R300m investment from a US company. | Fin24 Fin24 Yazi it look like I have to start by looking investor's abroad nami 🤞🏿 Fin24 hey man as long my stock is finally about to see green 😭
Fuente: News24 - 🏆 4. / 80 Leer más »