Oil quotes fell by 5% amid concerns about falling fuel demand in the world due to a new wave of coronavirus infection
The price of the February Brent crude futures on the London ICE exchange fell by more than 5%, dropped to a minimum of $69.63 per barrel. This is evidenced by the data of trading on the stock exchange. The price of Brent dropped below $70 per barrel for the first time since December 3.
WTI crude futures fell 5.4% to $66.86 per barrel.
Oil quotes accelerated the decline amid concerns about falling fuel demand in the world due to a wave of infections with a new strain of coronavirus, dubbed "omicron". The World Health Organization (WHO) has called the new strain a threat, admitting that available vaccines may not be as effective against it.
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