Dec. 20, 2021

Omicron Dampens Fuel Demand, Prices Drop

Investing.com – Oil prices slipped on Monday morning in Asia as the Omicron coronavirus variant in Europe and the United States kept investors on their toes with worries that fuel demand will slow if new restrictions on businesses are rolled out. Brent oil futures fell 1.69% to $71.75 by 10:56 PM ET (3:56 AM GMT) and WTI futures fell 2.78% to $68.89. "Today's Asia ... weak sentiment in oil prices seems to go in line with a weakness seen in the S&P 500 and Nasdaq 100 e-mini futures," said Kelvin Wong, market analyst at CMC Markets.

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