# Oil slumps on Omicron fears; posts biggest monthly fall in 20 months | Reuters

> Crude futures ended November 2021 with their biggest monthly declines since the start of the pandemic. The drop followed the emergence of the Omicron variant and expectations that strategic reserve releases would add supply.

- Date: 2021-11-30 · published 2021-11-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/6301-oil-slumps-on-omicron-fears-posts-biggest-monthly-fall-in-20-months-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Monthly losses reflect a shift from tight supply toward expected surplus, which lowers energy input costs. The move is largely a routine recap of prices already falling on known causes.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-12-01 | 5 | -15.6% | -5.2 | November ended with the biggest monthly fall since the pandemic began, reflecting Omicron fears and expected reserve-release supply. |
| WTI | 2021-12-01 | 5 | -16.5% | -4.7 | Record monthly decline and expectations of added supply from reserve releases framed the selling through month-end. |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-rise-bets-opec-will-hold-off-output-hike-2021-11-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.