Gas and oil prices have silver lining as investors assess Omicron variant risks

Jury still out on whether Omicron will fuel inflation by hitting supply chains or drive inflation lower if it keeps energy prices lower

European shares regained some of their ground lost on Friday as investors assessed the latest views from the World Health Organization on the seriousness of the new Covid variant. 

Stock markets scrambled on Monday to weigh the potential seriousness of the Covid-19 Omicron variant on economies around the world, but easing costs of wholesale gas and crude oil suggested some sort of silver lining. 

Capital Economics, a consultancy, has said the jury was still out on whether Omicron will fuel inflation by hitting supply chains or drive inflation lower if it keeps energy prices lower.