Oil Prices Dip As Omicron Cases Surge

Author: External Author | | Categories: Oilfield Service Company , Oilfield Services

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.

Read More

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