Oil extended gains on higher risk appetite

International benchmarks for crude oil settled higher on Tuesday, 28 December 2021 as traders regain risk appetite in spite of the rapid spreading of the Omicron variant across the globe. The aggregated production disruptions in Ecuador, Libya and Nigeria also lend support to the market.

Brent gained 34 cents to settle at $78.94/barrel. 

WTI settled up 41 cents at $75.98/barrel.