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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.
Energy BulletsCommodities
Energy BulletsCommodities

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