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Oil starts new year on positive note, pandemic worries curb gains

Oil starts new year on positive note, pandemic worries curb gains

03 Jan 2022

Oil prices rose on Monday as the market kicked off 2022 on a positive note, although concerns over demand waning due to rapidly spreading COVID-19 pandemic limited gains. Brent crude added 67 cents, or 0.86%, to $78.45 a barrel, as of 0102 GMT. U.S. West Texas Intermediate crude futures gained 77 cents, or 1.02%, to $75.98 a barrel.