Crude oil prices went one percent down on Friday amid concerns over Omicron variant of the coronavirus. As of 1245 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.90 (-1.17 percent) to reach $75.95 a barrel. On the other hand, the US West Texas Intermediate (WTI) price reached $73.89 a barrel, up by $1.03 (+1.42 percent). The market remained closed in the United States on Friday due to Christmas. The price for Opec Basket was recorded at $74.23 a barrel without any change, Arab Light was available at $77.54 with a 0.92 percent increase, and the price of Russian Sokol jumped to $77.87 with an increase of 1.01 percent. Oil prices retreated on Friday after rallying for three straight sessions. Oil prices recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness. The Organisation of the Petroleum Exporting Countries and allies (OPEC+) will meet on January 4 to decide whether to go with the proposed increase of 0.4 million barrels of oil per day amid the lockdowns imposed in different countries. The Omicron variant of coronavirus threatens to dent oil consumption globally. Governments around the world are tightening restrictions to stop the spread of the Omicron variant. Covid woes escalate in the West and challenge the holiday mood, as well as travel plans and hopes of energy demand linked to that.