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Oil prices continue to rise, Brent crude above $74

7 Dec 2021 11:53 AM

Oil prices continued to rise during Tuesday's trading, after rising about 5% on Monday, amid easing concerns about the repercussions of the "Omicron" strain on global demand for crude.

Officials in South Africa announced last week that symptoms related to the "Omicron" strain are not severe, which was also confirmed by the White House's chief medical adviser, "Anthony Fauci".

Government data reported by Bloomberg showed that China's oil imports rose to a three-month high in November, while exports hit an all-time high.

In terms of trading, the futures contracts for the standard “Brent” crude for February delivery rose 1.3 percent to $ 74.02 a barrel, at 09:05 AM Mecca time.

US "NYMEX" crude contracts for January delivery increased 1.6 percent to $70.63 a barrel.

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