Oil prices steady on demand concerns over Omicron spread By Reuters – Investing.com

Oil prices steady on demand concerns over Omicron spread By Reuters – Investing.com

By Jessica Jaganathan

SINGAPORE (Reuters) - Oil prices edged higher on Tuesday but price gains were capped due to investor worries about oil demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases.

futures edged higher by 1 cent to $74.40 a barrel by 0113 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 1 cent to $71.30.