Oil loses $ 10 .. the biggest daily drop since April 2020

Oil prices dropped ten dollars on Friday, recording the largest drop in a day from April 2020, after the discovery of a new strain of the Corona virus alarmed investors and relaunched Fears of global oversupply In the first quarter of next year.

Oil fell with global equity markets on fears that the new strain could undermine economic growth and fuel demand.

The World Health Organization on Friday classified the new strain as “worrying” and named it Omicron.

Countries including the United States, Canada, Great Britain, Guatemala, and European countries have imposed travel restrictions from southern Africa, where the strain was detected.

THE future Brent crude oil fell $ 9.50, or 11.6%, to $ 72.72 a barrel at the time of the deal, posting a weekly decline of more than 8%.

West Texas Intermediate crude fell $ 10.24, or 13.1%, to $ 68.15 a barrel following the US Thanksgiving holiday on Thursday. US crude oil losses during the week were over 10.4%.

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