Price of oil increasing

World oil prices have risen sharply.

Brent crude for February delivery was up by 2.09% at $ 71.34 a barrel.

Meanwhile, WTI January futures rose by 2.25% at $ 67.77 a barrel.

Last week, the price of Brent crude oil fell by almost 4%, while WTI - by 2.77%. This reduction was facilitated by the spread of the new coronavirus "Omicron" strain.