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WTI oil closes 61 cents on concerns about omicron in the US : InfoQuest

New York’s West Texas Intermediate Crude Oil (WTI) ended negative on Dec. The first omicron strain in the country This has led investors to worry about the impact on the economy and oil demand.

  • The WTI crude oil contract was delivered in January. It was down 61 cents, or 0.9%, at $65.57 a barrel.
  • Brent crude oil contract (BRENT) for delivery in Feb. It was down 36 cents, or 0.5%, at $68.87 a barrel.

in the beginning WTI crude oil futures move in positive territory. before the market closed down After the US Centers for Disease Control and Prevention (CDC) confirmed that Found infected with COVID-19 The first omicron strain in the United States yesterday (December 1), with the case returning from South Africa. and have been fully vaccinated but not vaccinated with booster needles

The news of the Omicron virus infection caused investors to worry that If the epidemic spreads, it could affect economic activity and oil demand.

Oil markets were also pressured by a report from the US Energy Information Administration (EIA), which showed US crude inventories fell just 910,000 barrels last week. That was less than analysts had expected a decline of 1.2 million barrels.

Gasoline inventories rose 4 million barrels, while analysts expected a 29,000 barrel increase. This includes heating oil and diesel, up 2.2 million barrels last week. while analysts expected an increase of 462,000 barrels.

Investors keep an eye on the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Or OPEC Plus today (Dec. 2), while the market is expected that OPEC Plus may suspend capacity increases in January 2022. to cope with the declining demand from the impact of the Omicron virus epidemic and to counter measures by the United States and its allies to drain crude oil from stockpiles.

By InfoQuest News Agency (02 Dec. 64)

Tags: lifestyle, oil, WTI oil, crude oil, oil prices

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