The Omicron strain may increase international oil price uncertainty

Affected by changes in market risk appetite, international crude oil futures prices have risen significantly recently, but many market analysts said that the rapid spread of the mutated new coronavirus Omicron strain in many countries may bring more uncertainties
to the future trend of oil prices.

Light crude futures for February 2022 delivery rose $1.
78, or 2.
41%, to close at $75.
57 on the New York Mercantile Exchange as of the close on Dec.
27, and London Brent crude futures for February 2022 delivery rose $1.
75, or 2.
28%, to close at $78.
6 per barrel
.

Tom Esser, founder of the US market research publication "7 Points Market Report", analyzed that New York oil prices have rebounded from the key support level of $65 per barrel, and oil prices may continue to rebound
in the future as long as the market's concerns about new epidemic prevention measures or uncertain economic growth do not rise significantly.
However, Aiser also said that investors should be wary of the uncertainty caused by the epidemic, because any factor that reduces the demand for crude oil may trigger a change in safe-haven funds, causing large fluctuations
in international oil prices.

Market analyst James Helchick believes that the biggest uncertainty facing international oil prices is whether the United States will strengthen epidemic prevention and control measures
due to the Omicron strain.
Once the U.
S.
government initiates the relevant measures, international oil prices may quickly fall to $
60 per barrel.
PVM oil brokerage analyst Tamas Varga also said that due to the epidemic, international oil prices have limited room to rise, and investors may sell crude oil futures
due to new prevention and control measures.

US President Joe Biden said on December 21 that the government plans to purchase more test kits, but the prevention and control measures will not return to the strictness
of early 2020.