Oil prices rise as fuel demand surges in top consumer United States By Reuters – Investing.com

Oil prices rise as fuel demand surges in top consumer United States By Reuters – Investing.com

By Jessica Jaganathan

SINGAPORE (Reuters) - Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world's top oil consumer even as the Omicron variant of coronavirus threatens to dent oil consumption globally.

A signal by the U.S. Federal Reserve to tackle inflation before it derails the U.S. economy also boosted prices.