Concerns about rising supply and the potential hit to demand from the Omicron variant of Covid-19 combined to drag crude prices sharply lower. Atlantic basin benchmark North Sea Dated lost $11.65/bl over the week to 2 December, ending more than 14pc down at $70.64/bl. US marker WTI was down by $11.89/bl to $66.50/bl, while Mideast Gulf marker Dubai dropped by $10.83/bl to $68.66/bl over the same period.
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