• Refiners underbought on Omicron demand fears
  • Outages in Libya, Canada and Ecuador restricted supplies
  • Traders cautious on ongoing rally
  • The uncertainties in China and the refinery turnarounds will have a negative impact

LONDON/BANGALORE/SINGAPORE, Jan 16 (Reuters) – Frantic oil buying amid supply disruptions and signs the Omicron variant will not be as disruptive as feared has propelled some crude grades to multi-year highs, suggesting the rally at Brent futures could hold for a while longer, traders said.

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