12/6/2021, 8:42 PM (Source: TeleTrader)
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Oil soars 5% on Iran talks, Omicron optimism

Prices of oil futures accelerated gains on Monday, rising 5% amid rising optimism regarding the allegedly milder symptoms that the Omicron strain of the coronavirus causes.

Additionally, the traders were encouraged by diminishing prospects of Iran sanctions being lifted amid somewhat unsuccessful Iran nuclear deal talks in Vienna.

West Texas Intermediate for settlements in January surged 5.13% at 2:31 pm ET, selling for $69.79 per barrel, while Brent for deliveries in February flew 5.12% a minute later, selling for $73.44.

Baha Breaking the News (BBN) / BU