Oil prices open lower after canceling thousands of flights

Crude oil prices fell at the beginning of weekly trading, Monday, after tightening restrictions around the world to confront the outbreak of the Omicron mutant, which included the cancellation or postponement of thousands of flights around the world.

Also, the western part of the United States is witnessing a very cold weather, which has prompted the postponement and cancellation of hundreds of other flights, daily, since last Friday, amid chaos in some American airports.

By 07:21 GMT, the price of Brent crude futures for February delivery fell 0.38%, or 29 cents, to $75.50 a barrel. The prices of US West Texas Intermediate crude futures for February delivery also fell 1.37% to $72.76 a barrel.

And on Sunday, global airlines canceled or postponed thousands of flights scheduled for Friday and Saturday, due to increased restrictions imposed by countries, to prevent the outbreak of the Omicron mutant and other reasons linked to bad weather in the western United States.

And FlightAware, a navigational website, which tracks civil and commercial flights around the world, reported that 8,000 other flights were postponed around the world, due to the increasing restrictions by countries, to prevent the outbreak of the new Corona mutant “Omicron”.

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