10.12. Oil prices dipped but track the biggest weekly gain since August

News for today, December 10:

Oil prices edged lower on Friday but remained on track for their highest weekly gain since late August. It was caused by changed market sentiment amid eased concerns about the Omicron coronavirus variant with regard to global growth and fuel demand. The strengthening of the dollar ahead of the U.S. inflation data also put pressure on crude prices: usually oil falls when the dollar rallies, as this makes oil more expensive for other currencies’ holders.

Asian stocks and European futures fell on Friday as traders pulled away from riskier assets amid caution ahead of key U.S. inflation data and worries about the 4th wave of coronavirus in Europe and possible lockdowns. MSCI’s broadest Asia-Pacific stock index outside Japan lost 0.6%, interrupting three-day gains, while Japan's Nikkei fell 0.5%. Despite Friday's fall, the index is up 1.7% this week. The price of Brent crude is $ 74.69 per barrel, WTI — $ 71.32. EUR/USD is at 1.1286, GBP/USD — 1.3202, gold is at $ 1,770.91 per ounce.­­­­