Crude oil futures ended higher for third straight day on Thursday as signs that the worst effects of the Omicron variant might be more containable than previously feared were countered by new COVID-19 restrictions amid surging infections. Meanwhile, Novavax Inc's Covid-19 vaccine is effective in generating an immune response against the Omicron variant. Other Covid-19 vaccine manufacturers, including Pfizer Inc. and Moderna Inc., also reported increased immune responses to Omicron.
Benchmark crude oil futures for February delivery rose $1.03 or 1.4 percent to settle at $73.79 a barrel on the New York Mercantile Exchange. Brent crude for February delivery surged $1.36 or 1.81 percent to settle at $76.64 a barrel on London's Intercontinental Exchange.