Brent crude futures fell 1% to $76 a barrel on Friday, coinciding with holiday liquidity tightening and closures due to Omicron as US markets were closed for holidays.<\/p>\n\n\n\n
Although Omicron has caused some travel restrictions and increased infections, a British health agency said the mutant was less likely to lead to hospitalization than the Delta strain.<\/p>\n\n\n\n
Despite the drop in Brent crude prices, 50,000 Brent crude contracts were traded, indicating that many of those moves cannot be read as on a normal trading day; volumes would be just under a million contracts.<\/p>\n\n\n\n
Oil is heading for annual gains after a strong recovery from the pandemic, but the rally faltered recently, in part due to concerns about Omicron. However, there are some signs of a decline in supply, with supply disruptions in Libya and Nigeria, while demand expectations have been boosted in recent days by Positive news about omicron severity.<\/p>\n\n\n\n
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Brent crude futures fell 1% to $76 a barrel on Friday, coinciding with holiday liquidity tightening and closures due to Omicron as US markets were closed for holidays. Although Omicron has caused some travel restrictions and increased infections, a British health agency said the mutant was less likely to lead to hospitalization than the Delta …<\/p>\n","protected":false},"author":9,"featured_media":52872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6863,6911,7430,7523,6936,8166,8156,6858],"class_list":["post-57416","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-covid-19-2","tag-europe","tag-fuel","tag-lockdown","tag-oil-prices","tag-omicron","tag-travel-restriction","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=57416"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57416\/revisions"}],"predecessor-version":[{"id":57417,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57416\/revisions\/57417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52872"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=57416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=57416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=57416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}