SA: Oil sinks on fear of new Covid variant stifling demand

SEEKING ALPHA reports:

– Crude oil prices and energy stocks are taking it on the chin as the concerns about a new COVID-19 variant are raising questions about global growth.

– WTI crude (CL1:COM) (NYSEARCA:USO) is down 6%, nearing $73/barrel and Brent (CO1:COM) is down 5.7%.

– WTI hasn’t been below $74/barrel since late September… 

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