Oil climbs as investors focus on Opec+ decision
Climbing oil prices on Thursday erased the previous day's losses, with investors adjusting positions ahead of an Opec+ decision on supply policy, though gains were capped by fears that the Omicron coronavirus variant could hit fuel demand.
Brent crude futures rose $1.56, or 2.3 per cent, to $70.43 a barrel by 1040 GMT, having eased 0.5 per cent in the previous session.
US West Texas Intermediate (WTI) crude futures gained $1.52, or 2.3 per cent, to $67.09 after a 0.9 per cent drop on Wednesday.
Global oil prices have lost more than $10 a barrel since last Thursday, when news of Omicron first shook investors.
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