Oil slips by more than 1% on rising supply, Omicron

By Ahmad Ghaddar LONDON (Reuters) – Oil prices fell for a third day straight on Wednesday on growing signs that supply growth will outpace demand next year, and as the World Health Organization said COVID-19 vaccines may be less effective against the Omicron variant. Brent crude futures fell 80 cents, or 1.1%, to $72.90 a barrel by 1111 GMT, after losing 69 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures fell 88 cents, or 1.2%, to $69.85 a barrel, after losing 56 cents in the previous session. The front-month Brent contract is trading at a small premium to the second month, …

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