NEW YORK: Oil prices rose around 3 percent on Monday due to hopes that the omicron COVID-19 variant will have a limited impact on global demand in 2022, even as surging cases caused flight cancelations. Global benchmark Brent crude rose $2.53, or 3.3 percent, to $78.67 a barrel by 11:01 a.m. EST (1601 GMT). US West Texas Intermediate crude rose $2.01, or 2.7 percent, to $75.80
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Oil prices rose more than 3% on Wednesday, recouping a big chunk of the previous session's steep losses, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant of the coronavirus.
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