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Oil futures shake off early losses to end sharply higher Monday

28312 oil futures shake off early losses to end sharply higher monday

Crude-oil futures reversed course to end sharply higher Monday, climbing in a session in which investors appeared willing to buy assets considered risky, despite concerns about the spread of the omicron variant of the coronavirus that causes COVID-19. West Texas Intermediate crude for February delivery CLG22, +0.74% CL00, +0.74% traded $1.78, or 2.4%, higher, to settle at $75.57 a barrel on the New York Mercantile Exchange. Crude futures concluded an abbreviated week of trade last week with a 4% weekly rise during the Christmas stretch, with U.S. markets closed on Friday in observance of the holiday.

Source: Marketwatch

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