Oil Prices Further Fall in Global Market

Crude oil prices have started falling again in the global market. Last Friday (November 26), the world oil price fell by about 10 US dollars per barrel due to the fear of Omicron. That trend continues on Tuesday (November 30).

According to OilPrice.com, the benchmark price of crude oil Brent fell by at least 3.74 percent on Tuesday. Brent crude traded down $2.75 this afternoon to $ 70.69 a barrel.

West Texas Intermediate or WTI, oil prices have fallen by about the same amount. On Tuesday, it was down 3.47 percent, or $2.43, at $67.52 a barrel. Besides, the price of heating oil has come down to at least $2.65 or $0.057.

Natural gas prices also fell on Tuesday. According to oil price.com, the price of natural gas in the world market has decreased by 4.14 percent, i.e. $0.201.

According to the US media CNN, the Omicron panic has also affected the international stock market. On Tuesday, Asia, Europe, America - almost everywhere the index was down.

South Korea's Kospi is on top of losing shares. Its index fell at least 2.4 percent on Tuesday. Japan's Nikkei 225 index fell 1.6 percent, as did Hong Kong's Hang Seng Index. However, the condition of the Shanghai Composite has remained stable.

The US stock market turned around a bit on Monday after a big fall in the stock market due to Omicron's push last week. However, on Tuesday, they returned to the downward trend. The Dow Jones industrial average fell 1 percent, the S&P 500 fell 0.8 percent and the Nasdaq fell at least 0.4 percent.