Oil prices rose after a larger-than-expected drawdown in US inventories, shaking off worries about the likely hit to economic activity from the spread of the Omicron coronavirus variant.
Brent crude futures ended the day up $1.31, or 1.8 per cent, to $75.29 a barrel.
US West Texas Intermediate (WTI) crude futures settled at $72.76 a barrel, up $1.64, or 2.3 per cent.
US inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is in part due to year-end tax considerations that encourage companies not to store crude barrels.
