Melbourne-Sana
Oil prices jumped today, extending its gains, after the OPEC Plus group announced its intention to review its plans to increase production before its next meeting, as the new strain of the Corona virus “Omicron” weakened demand, but prices are still on the decline path for the sixth week in a row.
Reuters reported that Brent crude futures rose 2 cents, or 0.2 percent, to $69.79 a barrel, after they jumped 1.2 percent in the previous session.
US West Texas Intermediate crude futures rose 27 cents, or 0.4 percent, to $66.77 a barrel, adding to its 1.4 percent gain at the end of trading yesterday.
And Brent is on its way to end the week down nearly four percent, while US light crude is about to end down two percent, both dropping for the sixth week in a row.