1. Crude oil prices up by around 2% on strong US demand, falling crude stockpiles and upbeat Fed outlook
MOSCOW (MRC) -- Oil prices rose around 2% on Thursday, as record US implied demand, falling crude stockpiles and an upbeat economic outlook from the Federal Reserve trumped fears of the Omicron coronavirus variant hurting global consumption, reported Reuters. Crude and other risk assets such as equities also got a boost after the Fed gave an upbeat economic outlook, lifting investor spirits even as the US central bank flagged a long-awaited end to monetary stimulus. "The market was fearful of what the Fed was going to do, and now that it's in the rearview and we know what we're dealing with, the market is rallying," said Phil Flynn, senior analyst price futures group in Chicago.
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