Brent crude futures was up 19 cents, or 0.3%, to $75.48 a barrel
at 1109 GMT, after a 1.8% gain in the previous session.
U.S. West Texas Intermediate (WTI) crude futures were up 5
cents, or 0.1%, at $72.81 a barrel after jumping 2.3% in the
previous session.
The big gains on Wednesday were partly spurred by a
larger-than-expected drawdown in U.S. crude stockpiles last
week. [EIA/S]
Also supporting bulls, the United States authorized Pfizer Inc's
antiviral COVID-19 pill for people aged 12 and older, the first
oral and at-home treatment as well as a new tool against the
fast-spreading Omicron variant.
Meanwhile, AstraZeneca said a three-dose course of its COVID-19
vaccine is effective against the Omicron variant, citing data
from an Oxford University lab study.
On the flip side, governments reimposed a range of restrictions
to slow the spread of Omicron.
The Chinese city of Xian on Wednesday ordered its 13 million
residents to stay home, while Scotland imposed gathering limits
from Dec. 26 for up to three weeks, and two Australian states
reimposed mask mandates.
However, fears over the potential impact of mobility
restrictions on fuel demand have receded because the
Organization of the Petroleum Exporting Countries (OPEC), Russia
and allies have left the door open to reviewing their plan to
add 400,000 barrels per day of supply in January.
(Additional reporting by Mohi Narayan and Sonali Paul; Editing
by Mark Potter)
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