Oil slips after restrictions to counter Omicron variant

Oil prices eased after early gains after measures by some governments to slow the spread of the Omicron coronavirus variant, though losses were capped by positive comments from vaccine makers about the efficacy of their jabs
Reuters Thursday, 9 December 2021

Oil prices eased after early gains after measures by some governments to slow the spread of the Omicron coronavirus variant, though losses were capped by positive comments from vaccine makers about the efficacy of their jabs.

Brent crude futures fell 47 cents, or 0.6%, to $75.35 a barrel by 1004 GMT after touching a peak of $76.70. U.S. West Texas Intermediate (WTI) crude futures fell 31 cents, or 0.4%, to $72.05 after a session high of $73.34.

British Prime Minister Boris Johnson imposed tougher COVID-19 restrictions in England on Wednesday, saying people should work from home where possible and wear masks in public places and show COVID-19 vaccine passes for entry to certain events and venues.

Denmark also plans new restrictions, including closure of restaurants, bars and schools, while China has halted group tourist trips from Guangdong.

South Korea has registered record infections while cases remain elevated in Singapore and Australia.