Oil prices are falling after statements from the president of Moderna...

Oil prices retreated, giving up gains on Tuesday, November 30, dropping by more than two dollars, as financial markets declined in general after an interview with the CEO of Moderna raised doubts about the effectiveness of anti-Corona vaccines against the new mutant Omicron.

The president of Moderna Pharma told the Financial Times that it is unlikely that Covid-19 vaccines will be as effective against Omicron as against the previous mutant, Delta.

Oil prices give up gains

Brent crude futures fell $1.82, or 2.5%, to $71.62 a barrel by 06:05 GMT. West Texas Intermediate crude futures fell $1.61, or 2.3%, to $68.34 a barrel.

It is noteworthy that the oil price had plunged by about 12% on Friday, with other markets declining amid fears that the spread of the new mutation would provoke a new closing wave and limit global growth, which would harm the demand for oil.

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