Oil prices fall as Covid-19 cases continue to surge
A report signalling the US is preparing new sanctions on Chinese officials has outweighed the positive sentiment driven by vaccine news, one analyst says
07 December 2020 - 13:37
London — Oil prices slipped on Monday as the positive effect from Covid-19 vaccines and an Opec+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tension between the US and China.
Brent crude fell 76 US cents or 1.5%, to $48.49 a barrel by 9.11am GMT. US crude was down 82c, or 1.8%, at $45.44...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.