Drop in Oil Prices as Omicron Cases Surge in Europe and Around the World

On Monday, nearly 3 percent of oil prices fell due to concerns of the Omicron spreading rapidly in Europe and the United States. Investors are worried that the spread would reduce the demand for fuel.

Oil prices of Brent crude futures decreased by 2.6 percent at 71.60 dollars per barrel, whereas the U.S. West Texas Intermediate (WTI) saw a decrease of 3 percent at 68.77 dollars a barrel.

Oil prices have plunged once again d....