Oil prices rebound as traders consider Omicron’s threat to demand

World Oil | Nov 29, 2021 at 1:00 AM
  • Oil rebounded from one of its biggest ever daily drops as traders assessed the risks to global demand from the Omicron variant of Covid-19 and the potential response by OPEC and its allies.
  • The group is scheduled to gather later this week and decide on its output plan for January.
  • By the end of the day everything from technical selling to options markets was contriving to push the market lower.