Oil prices see best week since August as virus fears subside

World Oil | Dec 12, 2021 at 1:00 AM
  • Oil set its biggest weekly gain in more than three months as the worst fears over the new virus strain have receded.
  • Rallies are still punctuated by selloffs such as that on Thursday after rising infection rates prompted some governments to tighten travel restrictions.
  • The prompt timespread for global benchmark Brent has also narrowed this week, pointing bearish sentiments.