Concerns driving investors to the security of bonds it’s at reduce the demand for oil
A black day is expected for world markets. There South African variant, new variant of the Covid-19 it is sinking the Asian stock exchanges and sliding oil prices. Operators fear it may be more contagious than the Delta and more resistant to vaccines and can inflict a severe blow to the still fragile global recovery.
Concerns driving investors to the security of bonds it’s at reduce the demand for oil for fear of new restrictions to national economies. Asian financial markets recorded the largest decline in three months. In Tokyo, the Nikkei index closed down 2.53% at 28,751.62 points. In Hong Kong, the index Hang Seng drops 2.34%, Shanghai loses 0.48% and Seoul leaves 1.42% on the ground. A downward start is also expected for the European stock exchanges.
I future on the Euro Stoxx yield 1.94%, while those on Dax in Frankfurt leave 1.76% on the ground and those on the Ftse 100 in London fell by 1.73%. Today the American markets, closed yesterday for Thanksgiving, will reopen but at reduced hours for the weekend. And a high-tension session promises to be. THE future on the Dow Jones yield 1.34%, those on the Nasdaq fall by 0.69% and those on the S & P500 mark -1.13%.
Oil prices on Asian markets also fell sharply. I future on WTI crude oil they lost 3.19% to 75.89 dollars a barrel while those on Brent left 2.58% on the ground at 80.10 dollars a barrel. To weigh are the fears of a global supply surplus in the first quarter following a coordinated release of crude oil reserves among major consumer countries, coordinated by the United States, and concerns about the effects of the new Covid-19 variant.
OPEC has warned that the release of crude oil reserves decided by the US in coordination with China, India, South Korea, Japan and Great Britain, will increase the already forecast oil surplus on the market by 1.1 million barrels per day in 2022. Meanwhile, some members of the oil cartel have reported that the release of strategic reserves could lead the coalition to hold back its crude oil supply in January.