- Nymex WTI was up over 2% Tuesday morning after falling about 5% over the past two days
- The new Covid-19 variant Omicron accounted for 73% of all cases in the U.S. last week, but there is little sign of a substantial hit to oil consumption (BBG)
- Libya suspended crude exports from two of its ports after militias shut down the nation’s biggest oil field days before an election (Bloomberg)
- The OPEC member’s National Oil Company said production had fallen by more than 300 MBbl/d
- The seventh round of nuclear talks between Iran and world powers will resume soon after Christmas
- Talks have been somewhat contentious as the U.S. and European diplomats have warned Iran time’s running out to revive a 2015 accord that limits its atomic activities in return for an easing of sanctions, including oil exports (BBG)