Oil prices plunged more than 5 percent in early trading on Nov. 26, hitting a two-month low as the emergence of a new COVID-19 variant spooked investors, driving down risk assets like stocks and pushing up havens like gold and bonds. Brent crude, the global benchmark, fell 5.8 percent to $77.49 a barrel by 6:43 am New York time, while U.S. West Texas Intermediate (WTI) crude was down around 6.0 percent, at $73.33 a barrel. Crude prices could face additional pressure from the recently announced coordinated release of stockpiles from strategic national reserves in a number of countries, including the United States, in a bid to cool soaring energy costs. Besides oil taking a tumble, overnight headlines about the new variant sent a broader wave of risk-off sentiment across markets, with major stock indexes falling in Asia and Europe, with investors pivoting towards the safety of havens like gold and bonds. …