Oil prices fall due to growing concerns about omicron strain

In the globe oil trading on Friday morning there is a decline in rate. As of 8 hours 9 minutes Moscow time, the price of a Brent crude barrel drop to $74 31 cents, which is 0.95% below the closing price of the prior commercial day. A barrel of WTI crude oil fell to $71 61 cents or 1.06%. The fall in price is connected with increased anxiety about the impact of the spread of the omicron coronavirus strain. WHO has expressed anxiety about the rapid spread of the disease. The agencies of some countries have begun to confine the movement of the population, which reduces the requirement for gasoline. As a result, the rate of increment in oil demand may slow down. Investors are also expecting the release of Baker Hughes information about a change in the number of running rigs in the United States. It will be published Friday night. According to the results of the prior week, the number of active drilling rigs in the country increased by 4 units to 471 units.


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Arseny Kudrin

Publicist, trader

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