Oil firms, near highest since late November on risk appetite

Industry
Published by
Reuters UK

By Naveen Thukral SINGAPORE (Reuters) – U.S. oil rose for a sixth consecutive session on Wednesday while Brent gained more ground with a broad-based rally in global markets supporting prices. The benchmark Brent crude rose 23 cents, or 0.3%, at $79.17 a barrel by 0101 GMT. U.S. West Texas Intermediate (WTI) crude added 21 cents, or 0.3%, at $76.19 a barrel. Both contracts are trading near their highest levels in a month, aided by strength in equities. Asset classes from oil to equities have clawed back losses from late November, when the Omicron variant of COVID-19 sent investors scurrying for…

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