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Oil Price Slumps on Fears of New Covid-19 Restrictions / WSJ

hank
edited November 2021 in Other Investing
Excerpt from Saturday’s (November 27) Wall Street Journal:

“South Africa’s warning of a new and fast-spreading strain of coronavirus walloped the energy sector on Friday, leading to the sharpest declines in oil prices since the global economy locked down early last year to slow the spread of the deadly virus. Oil prices fell more than 11%. Gasoline and diesel futures each dropped more than 12%.”

Subscription required https://www.wsj.com/articles/oil-price-slumps-on-fears-of-new-covid-19-restrictions-11637953717

Wanted to post this because somewhere else I reported the one-day drop at around 6%. Actually it was double what I first thought. A lot of natural resource & commodities funds have heavy weightings in energy. Personally, I’ve pretty much vacated those funds. Was way too early, but glad to be out.

From watch-list Friday: BRCAX -3.6% / PRAFX -3.13% / PRNEX -2.8%

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