As has been the story of this morning's session, fears of Omicron-induced restrictions are elevated. This has weighed considerably on risk sentiment, with energy prices and airline/travel stocks suffering.
Shares of U.S. airlines have fallen between 2.7% and 3.7% in premarket, with WTI down 3% and Brent down 2.5%.
More restrictions = less travel = less demand for fuel.
