WASHINGTON (dpa-AFX) - Oil prices eased slightly on Friday in pre-Christmas trading, as markets eye the next step by producer group OPEC+ and the impact of the Omicron variant.
Brent crude futures for March delivery slipped 0.1 percent to $76.52 a barrel in European trade after a three-day rally. NYMEX is closed for the Christmas holidays.
Brent contract was poised for a weekly gain after Britain's public health agency said on Thursday that people with the Omicron variant of the coronavirus are between 50 and 70 percent less likely to need hospitalization than those with the Delta strain.
However, it cautioned that the analysis is 'preliminary and highly uncertain' because of the small number of Omicron patients in hospitals and the fact that most were in younger age groups.
Meanwhile, the U.S. Energy Department awarded a second batch of crude oil from the strategic reserve to Marathon Petroleum Corp. as part of the Biden administration's effort to lower energy costs.
South Korea on Thursday became the first Asian consumer to follow through with a pledge to tap emergency stockpiles under the coordinated initiative.
Copyright RTT News/dpa-AFX
© 2021 AFX News
