Brent crude slides 2.7% as traders eye prospect of a bigger-than-expected hit to global demand
London — Oil prices slumped by $2 on Monday as surging cases of the Omicron coronavirus variant in Europe and the US stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand.
“Simply put, it is not a case of if but when governments impose tougher restrictions,” Stephen Brennock of broker PVM said in a report. The Netherlands went into lockdown on Sunday and the possibility of more Covid-19 restrictions being imposed ahead of the Christmas and New Year holidays loomed over several European countries.
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.
Oil slumps more than 2% on rising Omicron casesSurging cases of Omicron in Europe and the US stoked investor worries that new curbs on businesses to combat its spread may hit fuel demand
Read more »
Oil prices fall as Omicron threatens demand outlookOil prices slumped more than 3% on Monday as surging cases of Omicron stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand
Read more »
Oil prices fall as Omicron threatens demand outlookOil prices slumped more than 3% on Monday as surging cases of Omicron stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand
Read more »
Asian shares fall to one-year lowAsian stocks and oil prices slid as surging Omicron cases triggered tighter curbs in Europe and threatened to swamp the global economy into the new year
Read more »
JSE follows world markets weaker as global Omicron cases surgeThe JSE was weaker early on Monday, in line with its global peers, as a setback for US President Joe Biden’s economic agenda and fresh Covid-19 lockdowns in Europe weighed on global sentiment
Read more »