Vienna: Global crude oil prices fell sharply. Oil prices have been hit by concerns that Omicron expansion may reduce demand, the report said.
The fall in oil prices is due to fears that various European countries will impose restrictions ahead of the Christmas and New Year holidays as Omicron continues to expand. Brent crude was down 2.9 percent at $ 71.38 a barrel. US Texas Intermediate crude futures fell 3.5 percent to $ 68.41.
The Netherlands announced a lockdown yesterday in the wake of Omikron’s outbreak. The U.S. Department of Health also asked people to take booster doses, wear masks and be careful during winter vacation trips. This is the reason for the decline in oil prices.
