Crude oil futures ended significantly lower on Friday amid worries about the spread of the omicron variant and its potential impact on fuel demand. France on Thursday imposed fresh restrictions on travelers from the U.K. in response to the spread of the omicron variant. The U.S. is reporting more than 120,000 new cases of COVID-19 a day, up more than 40% from two weeks ago. According to a report from Baker Hughes, the number of active drilling rigs in the United States rose by 3 this week. The report said the total rig count increased to 579, up 233 from a year ago. Rigs drilling for oil rose by 4 to 475 while gas rigs fell by 1 to 104.
Benchmark crude oil futures for January delivery rose $1.52 or 2.1 percent to settle at $70.86 a barrel on the New York Mercantile Exchange. Brent crude for February delivery gained $1.50 or 2 percent to settle at $73.52 a barrel on London's Intercontinental Exchange.