• Latest
  • Trending
Oil Prices Dip as Coronavirus Surge Hinders Demand but Possible Strike in Norway May Offer Market Support

Oil Drops as New Coronavirus Strain Triggers Demand Recovery Fears

December 22, 2020

Opposition PDP Slams Buhari, Says Appointment of New Service Chiefs Late, Demands Probe of Buratai, Others 

January 26, 2021
Chelsea Set to Replace Lampard with Tuchel

Chelsea Names Tuchel as Head Coach

January 26, 2021
Funke Akindele Bello’s ‘Omo Ghetto’ Makes History as Highest Grossing Nollywood Film

Funke Akindele Bello’s ‘Omo Ghetto’ Makes History as Highest Grossing Nollywood Film

January 26, 2021
Odegaard Completes Medical Ahead of Arsenal Move

Odegaard Completes Medical Ahead of Arsenal Move

January 26, 2021
One ‘Dead’ as Shiites, Police Clash in Nigerian Capital

One ‘Dead’ as Shiites, Police Clash in Nigerian Capital

January 26, 2021
Buhari ‘Accepts Service Chiefs’ Resignation’, Appoints Replacements to Resume Immediately 

Buhari ‘Accepts Service Chiefs’ Resignation’, Appoints Replacements to Resume Immediately 

January 26, 2021
Stallion Nigeria, Interswitch, Flour Mills among Companies Investigated by CBN over FX Infractions

Nigeria Holds Key Interest Rate Unchanged at 11.5%

January 26, 2021
ARISE NEWSDAY

ARISE NEWSDAY

January 26, 2021

Nigeria: Some Southwest Indigenes Collaborating With Criminal Herdsmen, Gani Adams Says

January 26, 2021
Mauritius Begins Roll Out of Covid Vaccine

Mauritius Begins Roll Out of Covid Vaccine

January 26, 2021
SA’s Ramaphosa Condemns Rich Countries Over Hoarding Covid Vaccines

SA’s Ramaphosa Condemns Rich Countries Over Hoarding Covid Vaccines

January 26, 2021
Nollywood-Bollywood Collaboration ‘Namaste Wahala’ to Premiere on Netflix

Nollywood-Bollywood Collaboration ‘Namaste Wahala’ to Premiere on Netflix

January 26, 2021
Global Business Report

Global Business Report

January 26, 2021
Nigeria Police Says Hoodlums in Vehicles Fired Gunshots Before Setting Sunday Igboho’s House Ablaze

Nigeria Police Says Hoodlums in Vehicles Fired Gunshots Before Setting Sunday Igboho’s House Ablaze

January 26, 2021

Morning Show

January 26, 2021
Indonesia’s Confirmed Coronavirus Cases Exceed One Million

Indonesia’s Confirmed Coronavirus Cases Exceed One Million

January 26, 2021
Dutch Police Detain More Than 150 In Third Night of Curfew Violence

Dutch Police Detain More Than 150 In Third Night of Curfew Violence

January 26, 2021
UK Jobless Rate Highest Since 2016 As Second Covid-19 Lockdown Hits

UK Jobless Rate Highest Since 2016 As Second Covid-19 Lockdown Hits

January 26, 2021
Yellen Confirmed as First Woman US Treasury Secretary

Yellen Confirmed as First Woman US Treasury Secretary

January 26, 2021
Uganda polls: ‘I’ve Survived Two Assassination Attempts’ Says Bobi Wine

After 11 Days of House Arrest, Uganda Security Forces Withdraw from Bobi Wine’s Home

January 26, 2021

January 26, 2021
After Weeks of Closure, Mali Reopens Schools

After Weeks of Closure, Mali Reopens Schools

January 26, 2021
Protests Resume in Tunisia After Death of Protester

Protests Resume in Tunisia After Death of Protester

January 26, 2021

Ethnic Profiling a People and Saying They’re the Problem is is How Genocide Happens – Kadaria Ahmed Speaks on Herders’ ‘Eviction’ from Ondo Forests (WATCH)

January 26, 2021
Maskless South Africa Top Official Goes into Isolation, Accepts Fine

Maskless South Africa Top Official Goes into Isolation, Accepts Fine

January 26, 2021

I’m Fulani and I Take Great Exception To Being Put in the Same Basin as Kidnappers, Murderers – Kadaria Ahmed Speaks on Ethnic Profiling (WATCH)

January 26, 2021

Herders’ ‘Eviction’ from Forests: Let’s Focus on Insecurity, Not Ethnic Labelling, Says Nigeria Governor’s Chairman Fayemi (WATCH)

January 26, 2021
Cattle Breeders Not Averse to Those in Nigeria’s Forest Reserves Being Registered – Nigeria Governor’s Chairman Fayemi (WATCH)

Cattle Breeders Not Averse to Those in Nigeria’s Forest Reserves Being Registered – Nigeria Governor’s Chairman Fayemi (WATCH)

January 26, 2021

Criminality Has No Ethnicity; Eviction Order Targeted Against Those Masquerading as Herdsmen – Nigeria Governor’s Chairman Fayemi (WATCH)

January 26, 2021
Australia Day: Thousands Defy Covid Rules in Protests

Australia Day: Thousands Defy Covid Rules in Protests

January 26, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Tuesday, January 26, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Business

Oil Drops as New Coronavirus Strain Triggers Demand Recovery Fears

December 22, 2020
Reading Time: 2min
0 0
0
Oil Prices Dip as Coronavirus Surge Hinders Demand but Possible Strike in Norway May Offer Market Support
Share on FacebookShare on Twitter

Oil prices dropped further on Tuesday, adding to steep losses from the previous session, as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand recovery.

The fast-spreading new coronavirus strain has shut down much of Britain, and has prompted several countries to close their borders to British travellers and freight.

Brent crude futures were down 54 cents, or 1.1% to $50.37 a barrel at 0531 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 1.2%, to $47.38 a barrel.

Both benchmark contracts slid nearly 3% on Monday, partly erasing recent strong gains on the back of the rollout of COVID-19 vaccines, seen as key to easing mobility restrictions.

After the UK government warned that a new variant of the virus seemed to be spreading much faster than previous kinds, India, Pakistan, Russia, Jordan and Hong Kong joined European countries in suspending travel from Britain, and Saudi Arabia, Kuwait and Oman closed their borders completely.

“The nightmare before Christmas scenario has set in, with a combination of the ‘mutant virus’ compounded by Brexit angst,” said Stephen Innes, chief market strategist at Axi, referring to doubts over whether UK Prime Minister Boris Johnson can secure a post-Brexit trade deal with the European Union.

Innes said the oil market had been overbought, so the selloff was inevitable

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist