- Oil headed for the biggest monthly loss since the early days of the coronavirus pandemic as investors weighed risks posed by the new omicron variant.
- The weakness has hit the forward price structure for Brent that traders look to for clues on supply-demand.
- Brent for January supply is poised to expire in a so-called contango on Tuesday, meaning that the most immediate price is lower than the following month.
Omicron scare sends oil prices into worst monthly loss this year
