Brent crude price fell below $ 70 for the first time since 24 August

As RIA Novosti writes, as of 16:34 Moscow time, February futures for Brent crude fell 4.63% to $ 69.84 per barrel.

The price of January WTI futures fell 4.45% to $ 66.84.

Earlier, the White House said that the United States is not abandoning its decision to use oil from the strategic reserve, even amid falling prices in the light of the spread of the omicron coronavirus strain.