Oil prices continue to bleed .. “Brent” falls to its lowest level in more than 3 months

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Oil prices continue to bleed...

Sputnik

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Oil prices continued to decline, today, Tuesday, and the “Brent” mix fell during trading below the level of $70 a barrel for the first time since the end of August of this year.

And “TASS” agency reported that the futures contracts for the “Brent” mixture fell today below the level of $ 70 a barrel, and that the mixture had fallen below this level for the first time since the end of August 2021.

By 16:34 Moscow time, “Brent” contracts fell by 4.63% to $69.84 a barrel, while US “West Texas Intermediate” crude contracts fell by 4.45% to $66.84 a barrel.

The decline came amid economic concerns about the impact of the new strain of the Corona virus on demand for crude. The president of Moderna Pharmaceuticals told the Financial Times that it was unlikely that Covid-19 vaccines would be as effective against “Omicron” as they were against the previous mutant, “Delta”.

Source: TASS



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