Heading south: A foreigner walking inside the Suvarnabhumi Airport in Bangkok as Thailand bans entry from eight African countries due to Omicron. The market has priced in the worst possible outcome from the new variant, but it’s still far from clear how it will play out. — Reuters
PROBABLY the most sensible thing to happen in recent days in the crude oil market is the decision by Opec and its allies to postpone technical meetings to later this week to give themselves time to assess the market.
Crude’s wild ride continued in early Asian trade yesterday, with benchmark Brent futures rising as much as 4.6% to US$76.04 (RM322.37) a barrel, recouping some of the 11.6% slump on Nov 26, which saw the contract give up US$9.50 (RM40.28) to settle at US$72.72 (RM308.30).
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