Oil Prices Dip As Omicron Cases Surge
Oil prices fell early on Friday and were on track for a weekly loss as the fast-spreading Omicron COVID variant increased concerns about a potential hit to oil demand, while the hawkish Fed stance of tightening monetary policy next year started to lead to anxiety about economic growth.
As of 10:00 a.m. EDT on Friday, WTI Crude was down 1.87% at $71.10 and Brent Crude prices had fallen by 1.75% to $73.71.
Original Article Source Credits: Oil Price , https://oilprice.com/
Article Written By: Tsvetana Paraskova
Original Article Posted on: Dec 17, 2021
Link to Original Article: https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Dip-As-Omicron-Cases-Surge.html