Oil prices rally on inventory drawdown

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 … Read more