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."
Published on

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

Use Spotify? Access BizNews podcasts here.

Use Apple Podcasts? Access BizNews podcasts here.

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com