Brent oil price drops below $70

Oil prices tumbled nearly 5% on Tuesday after Moderna's chief cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets and adding to worries about oil demand.

Brent crude futures fell 4.63% to $69.84 a barrel at 16:34 (MSK), their lowest since August 24.

U.S. West Texas Intermediate (WTI) crude futures fell 4.45% to $66.84 .