Published by
Reuters UK
Reuters UK
By Ahmad Ghaddar LONDON (Reuters) -Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude rose by $1.04, or 1.3%, to $79.64 a barrel by 1119 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.15, or 1.5%, to $76.72. Both contracts traded at their highest in a month. “Support comes as well from high aggregated production disruptions in Ecuador, Libya and Nigeria and the expectation of another large drop in U.S. c…