Crude surged on upbeat economic outlook

International benchmarks for crude oil rose sharply on Thursday, 16 December 2021 after a remark from the Federal Reserve that the US is heading in 2022 ‘towards strong growth and full employment.’ The upbeat economic outlook distracted investors from the growing Omicron risk.

Brent gained $1.14 or 1.5% to close at $75.02/barrel. 

WTI increased $1.51 or 2.1% to close at $72.38/barrel.