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Oil falling in price on investors’ fears for demand

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Global oil prices fell on December 10 morning on investors’ fears for demand due to COVID restrictions in some countries, according to trading data, Report informs citing Prime agency.

As of 09:22 (GMT+4), the price of February futures for Brent crude oil fell by 0.31% to $74.19 per barrel, while the price of January futures for WTI crude oil fell by 0.23% to $70.78 per barrel.

The oil market is showing negative dynamics on December 10, as investors fear the demand for oil. Several countries reported additional restrictions on movement due to the spread of the omicron coronavirus.

On December 10 evening, US oil and gas services company Baker Hughes is to publish weekly statistics on operating oil rigs in the US, which may also affect prices. During the previous working week, their number didn’t change and amounted to 467.

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