11/26/21, 1:53 PM Oil’s Black Friday: Algos and Options Turn a Tumble Into a Crash - Bloomberg

Markets

Oil’s Black Friday: Algos and Options Turn a

Tumble Into a Crash
By Devika Krishna Kumar
+Get Alerts
November 26, 2021, 12:46 PM PST

Traders fear new Covid strain will dent recovering oil demand
All eyes on OPEC+ next week as cartel reconsiders its plans

Black Friday turned red very quickly for global oil markets. 

The day after Thanksgiving has been choppy before -- fewer traders can mean more volatility --
but nothing like this year. The prospect of the freshly named Omicron variant of Covid derailing
the world’s fight against the pandemic saw an early morning sell-off become a full-blown crash. 

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