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1/7, 12:07 PM (Source: TeleTrader)
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Oil gains 1% amid COVID concerns, inflation rise

Oil prices continued their rise on Friday as worries surrounding the spread of the Omicron variant persisted. COVID-19 infections around the world exceeded 300 million with 2 million cases recorded on Thursday. Meanwhile, the euro area saw record-high inflation in December at 5% as energy prices jumped 26% on an annual basis.

West Texas Intermediate (WTI) for March settlements grew by 1.05% at 5:55 am ET and sold for $79.71, while Brent for deliveries in the same month added 1.09% at 5:57 am ET, going for $82.87.

Baha Breaking News (BBN) / DJ