Crude oil market inched higher on subsiding Omicron fear

International benchmarks for crude oil ending the trading session on Thursday, 2 December 2021 higher on subsiding fear over the new coronavirus variant. Besides, the market believed that OPEC+ decision to increase output by another 400,000 barrels per day in January signal the confidence in the outlook.

Brent gained 80 cents to close at $69.67/barrel.

WTI increased 93 cents to close at $66.50/barrel.