Oil Prices Crash As Covid Does What Biden Couldn’t

Renewed Covid fears have managed to do what Biden couldn't, sending oil prices crashing as a new wave of demand destruction looms.Friday, November 26th, 2021 Oil prices experienced one of their worst trading days in recent memory on Friday, plunging across the board by over 10% on fears that a new COVID-19 variant discovered in Southern Africa might dampen economic growth and trigger another demand slump. Following the spectacular failure of the SPR release, which instead of depressing prices ratcheted them up higher, renewed COVID-19 concerns…