Oil prices dipped on Friday, putting the market on track for a weekly loss, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand.
Brent crude futures fell $1.14, or 1.5%, to $73.88 a barrel at 0952 GMT while U.S. West Texas Intermediate crude futures dropped $1.11, or 1.5%, to $71.27 a barrel. Brent and WTI are both headed for a 1.4% loss this week.
In the United States, the rapid spread of the Omicron variant has led some companies to pause plans to get workers back into offices. "Crude may remain in a holding pattern, albeit with plenty of price volatility around the mean, in holiday-thinned trading over the next couple of weeks."
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