- 29 Nov 2021
- ICICI Securities
Volatility in oil prices amid concerns over spread of Covid-19
News:Oil prices declined ~11% on November 26 amid concerns over spread of Covid variants. Prices are seen partially rebounding in trade by increasing ~4%.
Views: While oil prices are currently trending higher compared to pre-Covid level, any possible decline in fuel demand due to spread of Covid-19 variants may impact oil prices and thereby oil producing companies' realisation.
Impact: Negative