The rapid spread of the Omicron coronavirus variant has prompted countries to consider more restrictions that could dent fuel demand
Singapore — Oil prices rose on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand.
“The short-term hit to economic growth from border closing is still unknown and oil prices will remain sensitive to any stricter requirements with travel.” Still, Moderna said on Monday that a booster dose of its Covid-19 vaccine appeared to be protective against the fast-spreading Omicron variant in laboratory testing, providing some hope to investors.
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