Oil Futures Rise With Equities in Volatile Year-End Trading
- Market still assessing how omicron strain will impact demand
- WTI climbed 3.7% after falling for past the two sessions
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Oil climbed with equities as traders resumed buying risk assets following a two-day rout.
Futures in New York closed up 3.7%, trading around $71 a barrel. Crude rallied as U.K. Prime Minister Boris Johnson said he doesn’t plan to impose new restrictions on activities before Christmas. Volatility has surged as the market tries to assess the severity of the new strain’s impact, with price moves amplified by low end-of-year trading volumes.