Locked
Delta in China knocks oil price – With insights from The Wall Street Journal
"Crude prices neared their lowest levels since May as investors worry that travel restrictions and delayed office reopenings will limit fuel consumption."
On a broader scale, the highly infectious Delta variant of Covid-19 is expanding in relevance for investors. The oil price fell sharply yesterday after the variant emerged in China. Although 40% of the Chinese population have been vaccinated, the country has only used locally manufactured vaccines which are proving to be poor shields against the Delta variant. As a result, Beijing is now applying heavy lockdowns and mass testing in affected areas. Concerns at Delta spreading throughout China knocked the oil price back 4% yesterday. The latest is in the republished story below. – Alec Hogg
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