US oil price sinks as markets fret over COVID variant

PBC News:  US benchmark oil contract WTI slumped more than five percent in trading Friday as markets were slammed by worries over a new variant of Covid-19.

WTI tumbled 5.3 percent at $74.24 per barrel, while European benchmark Brent North Sea crude retreated 4.5 percent to $78.52, reports AFP.