Fears surrounding the new, heavily mutated coronavirus variant called Omicron slammed investor sentiment on Black Friday. While stocks suffered—and the Dow Jones Industrial Average had its worst day of the year—it was crude markets that were the hardest hit.
The Omicron news sent a shuddering chill through the nerves of oil traders, raising the specter of a renewed halt on global travel and a shriveling up of worldwide demand for crude. After all, these factors contributed to a price war between Russia and Saudi Arabia at…
