Saturday, July 12, 2025
Omicron scare sends oil prices into worst monthly loss this year- oil and gas 360

Omicron scare sends oil prices into worst monthly loss this year

World Oil (Bloomberg) –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. West Texas Intermediate plunged 3.6% and Brent also tumbled, with the price structure of the global benchmark crumbling. Crude’s losses formed part of a broad retreat in risk assets as equities and