Oil prices fell on news about Omicron

On Thursday, December 9, Brent crude fell 2.60% to $ 74. The decline in Price was facilitated by Fitch's decision on Chinese developers, as well as news about the new Omicron strain.

Fitch has downgraded the ratings of Chinese developers Evergrande and Kaisa to "limited default". A Japanese study found that the new COVID-19 variant is 4.2 times more infectious early on than Delta. The UK government has tightened restrictive measures to stem the proliferation of Omicron.

On negative news, the price dropped to $ 73.88. On Friday, December 10, during Asian trading, the price recovered to $ 74.26. The activity of speculators in the market remains low as they expect the US inflation report for November to be released. Support is the level of $ 72.50. Buyers must protect it, otherwise the price will quickly return to the region of $ 68 against the background of closing long positions.