Commodity prices are recovering from their steep drop as concerns ease over the omicron variant of the COVID-19 virus.
West Texas Intermediate on the New York Mercantile Exchange rose four of five trading days, starting the week with a $3.23 gain and shaking off a $1.42 drop Thursday to post an 8.2 percent increase for the week. That’s the biggest gain since August. WTI rose 73 cents to close at $71.67 Friday, up from $69.49 at Monday’s close. The posted price ended the week at $68.15, according to Plains All American.
Read More: Crude prices post biggest weekly gain since August