Omicron Becomes More Serious for Oil Demand

Crude oil futures close Monday, December 13, down 38 cents. The reaction of many governments to the Omicron charges puts a cloud of questionable sentiment on the global economy and oil demand.

  • WTI crude futures were down 38 cents at $71.29 a barrel.
  • Brent crude futures were down 76 cents at $74.39 a barrel.

This case occurred after the first confirmed death from the Omicron strain in England, which called into question the old assumption that the Omicron virus would not cause severe symptoms in patients.

The World Health Organization (WHO) announced that the Omicron strain of the Covid 19 virus, which has spread to more than 60 countries around the world, is creating “high-level” global risks.

However, oil prices were also slightly supported by the interruption of talks between Iran and the West on the nuclear agreement. This will delay further supply on the world market.

The Spot Market is Open

Tuesday, December 14, 2021

Energy
Updated at
USD
Price

Change

%Change
Crude Oil
09.50

71.02

-0.27

-0.38%

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