Oil in 2021 posted its biggest annual rise since 2009 as the rapid Covid vaccine rollout stimulated the reopening of economies, boosting consumption, while oil output remained limited. The U.S. benchmark West Texas Intermediate soared 55% for the biggest year-to-date gain in over a decade. According to a Reuters poll of 35 economists and analysts, Brent crude will average $73.57 per barrel in 2022.
Exxon Mobil signaled it will report a fourth consecutive quarterly profit, thanks in large part to stronger oil and gas prices. The snapshot of fourth quarter results came in an SEC filing, ahead of the official earnings on February 1.
Public-health officials are warning Americans against traveling on cruise ships, even if they’re vaccinated. Last week, the CDC issued a Level 4 notice regarding cruise travel — the highest level, which indicates very high Covid levels. The Cruise Lines International Association called the CDC’s action “particularly perplexing.”
