U.S. oil futures end lower a day after rising to their highest price in 2 weeks

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Oil futures ended with a loss on Thursday, with U.S. prices easing back a day after settling at their highest in two weeks. “Omicron uncertainty, and concerns of weakening crude demand,” snapped a three-day rally in U.S. benchmark oil prices, said Edward Moya, senior market analyst at Oanda. “Information on omicron has been fluid,” with one study earlier in the week showing a third Pfizer vaccination dose neutralized the variant, he said. A report from Bloomberg, however, said that a Japanese scientist found that the omicron variant is 4.2 times more transmissible in its early stage than the delta variant. January West Texas Intermediate crude CLF22, +0.47% fell $1.42, or 2%, to settle at $70.94 a barrel on the New York Mercantile Exchange.

This article was originally published by Marketwatch.com. Read the original article here.

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