NEW YORK :Oil prices fell Monday as concerns about demand fears stoked by the rapid global rise in Omicron coronavirus infections overtook concerns about oil supply reduction from Kazakhstan. "Oil prices are following the stock market lower on Omicron fears," said Phil Flynn, a senior analyst at Price Futures in Chicago. The market also pulled back from early-session gains as Libya said production output was increasing. [MKTS/GLOB]Concerns about the Omicron variant of the coronavirus bled into the oil market, pushing prices lower. Libyan production ticked up on Monday, and concerns about rising Libyan output overtook the market.

Source: Libya Today January 10, 2022 04:24 UTC