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  • 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