(MENAFN) Crude prices plummeted over stockholder warning from doubts regarding the newly-detected coronavirus strain omicron, although a projected fall in US crude inventories must constrain additional price declines.
International benchmark Brent crude was exchanging at USD75.10 a barrel as on 0639 GMT for a 0.45 percent fall after ending the last trading session at USD75.44 per barrel.
American benchmark West Texas Intermediate (WTI) stood at USD71.64 per barrel during the corresponding period for a 0.56 percent drop after the last ended at USD72.05 a barrel.
Since the omicron strain came out before two weeks, crude prices have been exposed to demand pressure. But, the severity of the new strain remains uncertain.
MENAFN08122021000045013568ID1103324351
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.