LONDON—Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week.
Brent crude rose by $1.04, or 1.3 percent, to $79.64 a barrel by 1119 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.15, or 1.5 percent, to $76.72.
