Oil plunges $10/bbl on new coronavirus variant concerns
Published by
Reuters

By Laura Sanicola (Reuters) – Oil prices plunged about $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets on fears the variant could dampen economic growth and fuel demand. The World Health Organization has designated the new variant as “of concern,” according to the South African health minister, while Britain, Guatemala and European countries are among those to restrict travel from southern Africa, where th…

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