The investors in the United States and Europe experiencing severe fears, as these regions are witnessing a sharp increase in the Omicron variant cases, which may lead to new restrictions on business to combat its spread to low fuel demands. The decline led to a drop in Brent Crude futures contract by nearly $4 below $70 a barrel, while U.S. West Texas Intermediate (WTI) crude fell below $67 a barrel, the same amount of the Brent Crude. Kelvin Wong, a market analyst with CMC Markets, pointed out that the drop in oil prices seems gone in line with the decline in the S&P 500 and Nasdaq 100 e-mini futures. The drop in oil prices has led to concern and fears of an imminent restrictions on economic activities, due to the spread of the Omicron variant in countries around the world. It is noteworthy that US energy companies has increased for the second week in a row, the oil and natural gas rigs , as the United States has recorded its highest inflation in nearly 40 years in the recent period. Agencies