Buyers consolidated above the $ 72.85 resistance

On Monday, December 6, at the end of the day 5.22%, up to 73.66. The trades opened with a sharp rise. The growth of quotations continued until the close of the day. Several factors contributed to the rise in prices.

In the morning oil rose in price amid increased demand for risky assets. Demand was supported by positive news from Omicron. The new strain is proceeding with relatively mild symptoms, which allayed fears about the potential economic consequences of it.

Oil rose in price amid Saudi Arabia's decision to raise prices for its main consumers. The oil buyers drew additional support from the fact that the negotiations had reached a dead end. Iran has failed to get rid of sanctions and increase oil production.

On Tuesday, December 7, at trading in Asia, Brent crude oil costs $ 73.49. Buyers passed the resistance of $ 72.85. Now the road to the $ 77 level is open for them.