Oil stocks are in the red with lower oil prices – Economy and Finance

(Teleborsa) – A wave of sales on all oil stocks varia piazza with The sector is also deep red in Europe (DJ Stoxx Oil -5%) on the back of the weak performance in crude oil prices. Crude oil futures contracts Brent In January 2022, they fell below the $80 threshold and lost 5 percentage points to $78.01. Same trend for derivatives on US black gold West Texas Middle (WTI), same maturity, which is trading 5.08% to $74.11.

Among the actors in the sector, Tenaris decreases by 5.70% while where are you It yields 5.04%.

Global concerns about the South African alternative are contributing to the impact on investor sentiment, which could make current anti-Covid vaccines less effective, with their various mutations and high prevalence.

at the beginning of the week, US President Joe Biden announced that the US Department of Energy will provide 50 million barrels of oil from Strategic Petroleum Reserve To “reduce energy prices for Americans and address the mismatch between pandemic demand and supply.” Nevertheless, the decision was met Doubt from insiders, according to which the intervention will be of temporary importance and incapable of restoring the balance in the relationship between supply and demand.

(Foto: © Amikishiyev / 123RF)