Oil prices fell, during trading today, Tuesday, as the global “Brent” mix fell below the level of $71 a barrel, for the first time in nearly 3 months.
By 09:45 Moscow time, Brent crude futures fell 3.55% to $70.83 a barrel. Meanwhile, US West Texas Intermediate crude futures decreased by 3.39% to $67.58 a barrel.
Thus, oil prices have abandoned the gains they made yesterday, and 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: Reuters + TASS