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Jan. 11, 2022, 2:44 p.m. EST

Oil prices finish at a 2-month high

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By Myra P. Saefong

Oil prices rallied Tuesday to log their highest settlement in about two months. The global oil demand outlook "still looks upbeat as most major economies are getting closer to the other side of the omicron fence," said Edward Moya, senior market analyst at OANDA. U.S. benchmark crude prices poised to make a "run towards last year's highs if stockpiles continue to decline," he said. February West Texas Intermediate crude rose $2.99, or 3.8%, to settle at $81.22 a barrel on the New York Mercantile Exchange, the highest front-month contract finish since Nov. 11, FactSet data show.

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