Oil Prices Rebound After ‘Black Friday’ Crash In November

Following one of the biggest daily collapses in the past two decades at the end of November, oil prices have rebounded in recent days in a mini relief rally and were headed early on Friday to their largest weekly gain since August.   As of 9:24 a.m. EST on Friday, WTI Crude was up 1.23% at $71.83 and Brent Crude was trading up 1.01% at $75.20, after fears of a severe impact of the Omicron COVID variant on oil demand started to ease this week. On November 26, oil prices crashed by more than 10%, with the front-month futures price for Brent…