Oil drops for 2nd session on concerns over rising Covid-19 cases
Oil lost more ground on Monday as rapidly climbing cases of the Omicron Covid-19 variant hit economic activity, although losses were curbed by supply disruptions in Kazakhstan and Libya.
Brent crude slid 38 cents, or 0.46 per cent, to $81.37 a barrel, while US West Texas Intermediate (WTI) crude was down 34 cents, or 0.43 per cent, to $78.56 a barrel.
US employment in the country increased less than expected in December amid worker shortages, and job gains could remain moderate in the near term as spiralling Covid-19 infections disrupt economic activity.
More than 304.87 million people have been reported to be infected by the novel coronavirus globally and 5,834,506 have died, according to a Reuters tally.
