Covid-19 flare-up in China raises concerns of global demand slowing
Singapore — Oil prices slid on Tuesday, extending losses of nearly 2% in the previous session, as a stronger US dollar and a flare-up in Covid-19 cases in China raised concerns of slowing global demand.
The dollar gained on Tuesday, with worries about rising interest rates and geopolitical tensions unsettling investors. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. Covid-19 cases in the world’s second-largest oil consumer rose to their highest since August. Its services activity in September contracted for the first time in four months, as pandemic restrictions weighed. Thousands of cases caused by Omicron sub-variants have been reported in Inner Mongolia since the start of October, turning the region into the country’s latest Covid-19 epicentre.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Covid-19 wave looms in Europe as booster campaign makes slow startOct 6 (Reuters) - A new Covid-19 wave appears to be brewing in Europe as cooler weather arrives, with public health experts warning that vaccine fatigue and confusion over types of available vaccines will likely limit booster uptake.
Read more »
COVID-19: White House says Covid-19 booster campaign going well, should pick upWASHINGTON, Oct 7 (Reuters) - The White House expects the rate of vaccination in its fall booster campaign to pick up over the coming weeks, and its Covid-19 response coordinator Dr. Ashish Jha on Friday characterized the initial pace as 'a really good start.'
Read more »
WHO: COVID-19 created global crisis for mental healthThe WHO said that estimates put the rise in both anxiety and depressive disorders at more than 25% during the first year of the pandemic, while services have been severely disrupted and the treatment gap for mental health conditions has widened.
Read more »
All the things that Trevor Noah missed during the COVID-19 pandemicTrevor Noah announced his exit from 'The Daily Show' after 7 years hosting the show and what's next for him.
Read more »
Midday Report Express: Zuma, COVID-19 grants and six bodies in Joburg buildingThe Midday Report Express: Zuma, COVID-19 grants and six bodies in Joburg building
Read more »