The state of optimism about the expected effects of the new mutation of the Corona virus (Omicron) on oil prices at the beginning of this week was reflected, as crude continued, today, Monday, to achieve gains in The start of the weekly trading.
The increase in prices supported the growing optimism that the impact of the variable (Omicron) will be much less than expected on global economic growth and demand for fuel, and therefore that crude oil will not be affected in any way Big.
Brent crude futures rose 1.24% to $76.08 a barrel in morning trading on Monday, after rising 1% last Friday.
The US West Texas crude also rose by 1.4 percent to reach $72.52 a barrel, after achieving a 1% increase in the previous session, according to data seen by Al Arabiya.net.
Both benchmarks posted 8% gains last week, their first weekly gain in seven weeks.
The two crudes, Brent and Texas, have recovered more than half of the losses they have sustained since the Omicron outbreak in late November.
