Free Trial

Risk Off Exerts Downward Pressure On Commodities

OIL

Commodities were casualties of a risk off session in Asia; WTI last down $0.66 at $52.47, while brent is down $0.63 at $55.47.

  • Coronavirus concerns are weighing on risk assets as Biden inauguration euphoria subsides. There are reports that France will require all visitors to have a negative Covid-19 test, while in the UK ministers are reportedly pushing for Britain's borders to be closed as several countries in Europe report the deadliest day of the pandemic so far.
  • The eastern hemisphere has its own set of issues, Hong Kong announced plans to lock down part of the Kowloon district due to a worsening coronavirus outlook. Several cities in mainland China have already imposed travel restrictions ahead of Lunar New Year.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.