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Al Jazeera

Business

Radmilla Suleymanova

Will oil reach $100 a barrel? And how will it affect you?

Joe Biden Omicron

The Omicron strain of the coronavirus is not proving to be as disruptive to oil prices as analysts and traders once feared [File: Nick Oxford/Reuters]

Oil has been on a steady climb in recent weeks – reaching its highest level since 2014 on Wednesday – and analysts say the supply-demand picture will remain extremely tight for the remainder of January and February.

Prices have surged since their post-Thanksgiving meltdown, when news of the Omicron variant sent them falling on fears that the latest strain of the coronavirus would bring back more business-sapping restrictions.

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