Oil Prices Ease, Focus Shifts to Next OPEC+ Move

Oil Prices Ease, Focus Shifts to Next OPEC+ Move
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas on April 27, 2020. Adrees Latif/Reuters
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LONDON—Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays but the benchmark was still headed for a weekly gain, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.

Brent crude futures fell 75 cents, or 1 percent, to $76.10 a barrel by 1121 GMT, following a 2.1 percent gain in the previous session. The benchmark was still on track for a weekly gain of about 3.5 percent.