Brent oil price dropped below 70 dollars for the first time since August 23, indicate the exchange data.
During the auction on Tuesday, November 30, the price of Brent Brent collapsed to $ 69.71 (minus 4.79 percent compared to the closure of the previous trading session). WTI grade oil fell to 66.53 dollars (minus 4.89 percent).
Against the background of the cheaper oil, the shares of Russian oil companies fell. At 16:47 Moscow time “LUKOIL” dropped to 6585 rubles per piece (minus 0.47 percent), Rosneft – up to 564.6 rubles (minus 1.51 percent).
The decrease in oil quotes is associated with the spread of a new strain of coronavirus B.1.1.529, called Omicron. Today, the Director General of the pharmaceutical company Moderna Stephen Bansiel said that existing vaccines will be less effective against a new strain due to a large number of mutations. Bansale’s words led to a decrease in European markets.