PC21
2021-12-25
Volatility.
Oil Trims Weekly Gain Amid Low Liquidity Heading Into Christmas
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While omicron has led to some travel restrictions and surging infections, a U.K. health agency said the variant was less likely to lead to hospitalizations, compared with the delta strain.</p>\n<p>While prices dipped early Friday, barely 50,000 Brent crude contracts had traded, suggesting little could be read into the move. On a normal trading day, volumes would be just below 1 million contracts.</p>\n<p>Oil is heading for a yearly gain after a robust rebound from the pandemic, but the rally has faltered recently, in part due to concerns about omicron. 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While omicron has led to some travel restrictions and surging infections, a U.K. health agency said the variant was less likely to lead to hospitalizations, compared with the delta strain.\nWhile prices dipped early Friday, barely 50,000 Brent crude contracts had traded, suggesting little could be read into the move. On a normal trading day, volumes would be just below 1 million contracts.\nOil is heading for a yearly gain after a robust rebound from the pandemic, but the rally has faltered recently, in part due to concerns about omicron. 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