A free fall in oil prices amid great fears of the emergence of the new Corona variable

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Brent contracts fell 10.29% to $73.76 a barrel


Crude oil prices fell sharply, during trading today, Friday, amid widespread concerns about the impact of the newly discovered Corona virus in South Africa, with some cases emerging in other countries; According to “Sputnik”.

In detail: The international benchmark, Brent, touched its lowest level since late September, while the American benchmark, Nymex, recorded a sharp decline, amid fears that the new variable would cause a wave of closures worldwide; Which may lead to a decline in demand.

By 04:30 pm GMT, US crude futures fell by 11.50% to $69.36 a barrel, while Brent contracts fell by 10.29% to $73.76 a barrel; According to data from Bloomberg.

The new variable is seen as the latest and perhaps the biggest threat to the recovery of oil consumption in months; Global stock markets witnessed heavy selling and fell sharply as well; As investors fled to safe assets.

The new mutant of the Corona virus, “SARS Cove 2”, which causes “Covid 19”, was first known in South Africa, and it bears the name “B.1.1.529”, and officials say it is very worrying.

The World Health Organization is meeting today to discuss the seriousness of this mutation, while experts have warned that it is a cause for concern. It seems that it has a great ability to evade the immunity generated by the vaccine, but all this needs research and analysis to confirm it. Meanwhile, some countries have suspended travel with South Africa.

A free fall in oil prices amid great fears of the emergence of the new Corona variable

already

Crude oil prices fell sharply, during trading today, Friday, amid widespread concerns about the impact of the newly discovered Corona virus in South Africa, with some cases emerging in other countries; According to “Sputnik”.

In detail: The international benchmark, Brent, touched its lowest level since late September, while the American benchmark, Nymex, recorded a sharp decline, amid fears that the new variable would cause a wave of closures worldwide; Which may lead to a decline in demand.

By 04:30 pm GMT, US crude futures fell by 11.50% to $69.36 a barrel, while Brent contracts fell by 10.29% to $73.76 a barrel; According to data from Bloomberg.

The new variable is seen as the latest and perhaps the biggest threat to the recovery of oil consumption in months; Global stock markets witnessed heavy selling and fell sharply as well; As investors fled to safe assets.

The new mutant of the Corona virus, “SARS Cove 2”, which causes “Covid 19”, was first known in South Africa, and it bears the name “B.1.1.529”, and officials say it is very worrying.

The World Health Organization is meeting today to discuss the seriousness of this mutation, while experts have warned that it is a cause for concern. It seems that it has a great ability to evade the immunity generated by the vaccine, but all this needs research and analysis to confirm it. Meanwhile, some countries have suspended travel with South Africa.

November 26, 2021 – Rabi` al-Akhir 21, 1443

08:54 PM


Brent contracts fell 10.29% to $73.76 a barrel

Crude oil prices fell sharply, during trading today, Friday, amid widespread concerns about the impact of the newly discovered Corona virus in South Africa, with some cases emerging in other countries; According to “Sputnik”.

In detail: The international benchmark, Brent, touched its lowest level since late September, while the American benchmark, Nymex, recorded a sharp decline, amid fears that the new variable would cause a wave of closures worldwide; Which may lead to a decline in demand.

By 04:30 pm GMT, US crude futures fell by 11.50% to $69.36 a barrel, while Brent contracts fell by 10.29% to $73.76 a barrel; According to data from Bloomberg.

The new variable is seen as the latest and perhaps the biggest threat to the recovery of oil consumption in months; Global stock markets witnessed heavy selling and fell sharply as well; As investors fled to safe assets.

The new mutant of the Corona virus, “SARS Cove 2”, which causes “Covid 19”, was first known in South Africa, and it bears the name “B.1.1.529”, and officials say it is very worrying.

The World Health Organization is meeting today to discuss the seriousness of this mutation, while experts have warned that it is a cause for concern. It seems that it has a great ability to evade the immunity generated by the vaccine, but all this needs research and analysis to confirm it. Meanwhile, some countries have suspended travel with South Africa.





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