Traders expect tighter production from major producers on Monday morning in London, with oil prices rising. However, omicron COVID-19 variants didn't affect global fuel demand. Read more.
Tags : opec+
The manufacturer of one of the Covid-19 vaccines, Moderna, has expressed doubts that the vaccines will be effective against the new variant of the coronavirus, Omicron, as well as against the previous variant of Delta. Read more.
Brent Crude Oil and WTI were both trading steady on Wednesday after a release of oil reserves did not cause a dip in price as expected. Instead, Oil actually gained on Tuesday with a sharp bounce. At the time of writing (12:00 pm) Brent Crude was trading at levels around $81 and WTI was trading at around $78. Read more.
Investment holding company Brait, listed on the JSE and Luxembourg Stock Exchange, saw its share price drop by over 10% (to around R4,05) on Tuesday morning after the company announced plans for a rights issue of up to R3 billion to refinance its debt. Read more.
South Africa's ruling African National Congress (ANC) received 46% of the vote in this week's local government elections, according to the final count on Thursday. Read more.
The sharp decline in Brent Crude over the last month was noticeable following the market shifting rally soon after the Pfizer(PFE) vaccine announcement that saw the price rally from $36.60 last year November to a post-pandemic high of $77.49 as expectations of a global economy was taken into account. Read more.