Crude prices drop over doubts regarding Omicron | MENAFN.COM

Thursday, 20 January 2022 02:15 GMT

Crude prices drop over doubts regarding Omicron


(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.

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