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(Reuters) - Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant. U.S. West Texas Intermediate (WTI) crude futures rose 78 cents, or 1.2%, to $66.96 a barrel... Continue Reading →
(Reuters) - Oil prices tumbled nearly 3% on Tuesday after Moderna's CEO cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets and adding to worries about oil demand. The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the... Continue Reading →
(Reuters) - Morgan Stanley on Monday cut its first quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand. The market appears to be pricing in the possibility that the new variant could prompt restrictions and... Continue Reading →
(Reuters) - Oil rebounded by almost 5% on Monday to $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone. While the World Health Organisation has warned that understanding the variant's severity could take time running into weeks, a South African doctor... Continue Reading →
(Reuters) - Risks of a new COVID hit to economic activity are clobbering expectations for rate hikes next year from the world's major central banks, a potential setback for the dollar and other currencies where wagers had been most aggressive. Money markets no longer fully price a 25-basis-point interest rate rise by the Federal Reserve... Continue Reading →
(WO) Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption in several months, with... Continue Reading →
Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others. Oil fell in tandem with other financial markets on fears that... Continue Reading →
(Rigzone) Oil traders are betting that longer-term crude prices could be set to spike because of a lack of investment in future supply. Since hitting their high for the year last month, the most-active oil futures have fallen almost 5%. By comparison, those for late 2022 and 2023 have barely moved, sticking above $70 a... Continue Reading →
(Reuters) - Brazilian central bank chief Roberto Campos Neto said on Wednesday he was surprised by stubborn price pressures that had resulted in worse-than-expected inflation, while reaffirming the bank's aim to bring inflation down to its target range. The comments came amid growing market expectations that inflation next year could exceed the target of 3.5%,... Continue Reading →
(Reuters) - Oil prices were steady on Wednesday as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves and turned their focus to how producers will respond. Brent crude futures were down 27 cents, or 0.3%, to $82.04 a barrel at 1000 GMT, after rising 3.3% on Tuesday. U.S. West Texas... Continue Reading →
Brazil Energy Insight 