Oil prices fell again today after the World Health Organization (WHO) said that covid-19 vaccines may be less effective against the omicron variant of the coronavirus.

Also weighing on the negotiation are the increasing signs that supply growth will outstrip demand next year.

West Texas Intermediate (WTI), the US benchmark for January delivery, is down 0.98% to $70.04 per barrel.

As for North Sea Brent, traded in London and the benchmark for European imports, it retreated 0.72% to $73.17.

"Prices are suffering from the current uncertainty brought by the omicron variant and the prospect of potential travel restrictions and blockades at some critical points. In addition, the remaining political tension between the US and Russia and China is an additional drag on short-term market sentiment," points out Pierre Veyret, technical analyst at ActivTrades, in his daily analysis.