Oil prices shrugged off early gains on Thursday as countries imposed new travel curbs to combat surging cases, though the downside remained capped over positive developments around COVID-19.
U.S. West Texas Intermediate crude futures were down 12 cents, or 0.1%, to $72.62 a barrel at 0810 GMT after jumping 2.3% in the previous session.
Brent crude futures fell 18 cents, or 0.1%, to $75.11 a barrel, after a 1.8% gain 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."Markets have welcomed the steady flow of encouraging news on the Omicron front this week, with investors gradually regaining their risk appetite," said Vandana Hari, energy analyst at Vanda Insights, who added that sentiment could switch direction again.
The United States authorized Pfizer Inc's antiviral COVID-19 pill for people ages 12 and older, the first oral and at-home treatment as well as a new tool against the fast-spreading Omicron variant.
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