LONDON : Oil rebounded by more than 5per cent on Monday to above US$76 a barrel as some investors viewed Friday’s slump in oil and financial markets as overdone while the world awaits more data on the Omicron coronavirus variant. Top officials from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, echoed that view, with the Saudi energy minister quoted as saying he was not worried about the Omicron variant.The World Health Organization has said it could take weeks to understand the variant’s severity, though a South African doctor who has treated cases said symptoms seemed to be mild so far. Brent crude was up US$3.66, or 5per cent, at US$76.38 a barrel by 1444 GMT, having slid by US$9.50 on Friday. U.S. West Texas Intermediate (WTI) crude was up US$4.36, or 6.4per cent, at US$72.51, having tumbled by US$10.24 in the previous session. “We saw some correction as Friday’s plunge in oil prices has been overdone,” said Tatsufumi Okoshi, senior economist at Nomura Securities. Friday’s slide, the biggest one-day drop since April 2020, reflected fears that travel bans would hammer demand. The plunge was exacerbated by low liquidity owing to a U.S. holiday and the expected demand hit does not justify such a fall, analysts said. “The fear factor had its grip on financial markets on Friday,” said Norbert Ruecker of Swiss bank Julius Baer. “Fundamentally, the announced and enacted international air travel constraints cannot explain such a sharp slump.” A semblance of calm also returned to wider markets on Monday as investors awaited more information about the new variant. European and Wall Street shares rose while safe-haven bonds lost ground. “I can’t help but feel that Friday’s lows were probably the bargain of the year if you were an oil buyer, speculative or physical,” said Jeffrey Halley of brokerage OANDA. Omicron has created a new challenge for OPEC+, which meets on Dec. 2 to discuss whether to proceed with a scheduled January increase to oil output. OPEC+ has postponed technical meetings this week to gain time to assess Omicron’s impact. Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud on Monday said he was not worried about Omicron, Asharq Business reported, while his Russian counterpart said he sees no need for urgent action on the market. Also on the oil market’s radar this week, talks on reviving the 2015 Iran nuclear accord, which could add to global supply if a deal is reached.
Oil prices rebound 5% after massive sell-off….. US up premarket, Dow jumps 200 points
The prices of crude oil started recovering on Monday from a massive sell-off sparked by the detection of a new Omicron coronavirus strain that prompted governments to impose travel bans over the past week. While the World Health Organization warned people might have a higher risk of reinfecting with this coronavirus variant compared to known mutations, South African scientist Angelique Coetzee insisted the mutation causes mild COVID-19 symptoms. West Texas Intermediate (WTI) for settlements in January jumped by 5.17% to sell for $71.68 per barrel at 6:11 am ET, while Brent for deliveries in the same month soared by 4.66% to go for $76.11 a barrel.
US up premarket, Dow jumps 200 points
Equities on Wall Street traded higher in the premarket session on Monday, following last week’s massive sell-off triggered by fresh coronavirus concerns. Some states have already declared states of emergency over the variant, which officials indicated may be more transmissible than other strains. The Dow Jones jumped over 200 points, to settle for a gain of 0.50% at 4:22 am ET. At the same time, the Nasdaq 100 increased 1.11%. The S&P 500 rose 0.75% a minute later. The euro traded 0.34% lower against the dollar to change hands for $1.12867 at 4:23 am ET. NN: This will be a choppy week. With Thurday OPEC meeting and Fridays unemployment report.
U.S. stock futures, oil rally as mood lightens
https://youtu.be/h-4ipGGXAEY
SYDNEY (Reuters) – U.S. stock futures led a market rebound on Monday as investors prepared to wait a few weeks to see if the Omicron coronavirus variant would really derail economic recoveries and the tightening plans of some central banks.
Oil prices bounced more than $3 a barrel to recoup a chunk of Friday’s shellacking, while safe haven bonds and the yen lost ground as markets latched onto hopes the new variant of concern would prove to be “mild”.
While Omicron was already as far afield as Canada and Australia, a South African doctor who had treated cases said symptoms of virus were so far mild. “Another key difference is there are far higher vaccination take up rates globally now compared with when Delta emerged,” said Craig James, chief economist at asset manager CommSec. “What the news on Omicron does highlight is the need for central banks and governments to take a cautious approach to removal of economic support and stimulus.” Trading was erratic on Monday but there were signs of resilience as S&P 500 futures added 1.0% and Nasdaq futures 1.2%. Both indices suffered their sharpest fall in months on Friday with travel and airline stocks hit hard. European Central Bank President Christine Lagarde put a brave face on the latest virus scare, saying the euro zone was better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant. In commodity markets, oil prices bounced after suffering their largest one-day drop since April 2020 on Friday. “The move all but guarantees the OPEC+ alliance will suspend its scheduled increase for January at its meeting on 2 December,” wrote analyst at ANZ in a note. “Such headwinds are the reason it’s been only gradually raising output in recent months, despite demand rebounding strongly.” Brent rebounded 4.2% to $75.80 a barrel, while U.S. crude rose 5.1% to $71.61
Omicron variant causes mild symptoms – scientist
The newest variant of concern of the virus that causes COVID-19 causes unusual symptoms but those symptoms are mild, a top South African doctor says. Dr. Angelique Coetzee practices in Pretoria, the capital of South Africa, one of the countries where the Omicron CCP (Chinese Communist Party) virus variant was first detected earlier this month. Coetzee recalled seeing a variety of patients enter with symptoms not associated with other CCP virus strains, including a high pulse rate.
“Their symptoms were so different and so mild from those I had treated before,” Coetzee told The Telegraph.
Most of the patients who turned up to her clinic and have tested positive for COVID-19 felt tired. Other symptoms included sore muscles and a slight cough, Coetzee added to Sputnik. “There are no prominent symptoms. Of those infected, some are currently being treated at home,” she said. The most common symptoms from earlier variants include fever, dry cough, and loss of taste or smell, though some patients are known to have suffered from fatigue. A small subset of the infected require hospital care for their symptoms, and deaths are mostly among the elderly and people with serious underlying health conditions like obesity and kidney disease. People with the Omicron variant were also identified in Botswana and later detected in a slate of other areas, including Hong Kong, the United Kingdom, and the Netherlands. Many nations have barred or restricted travel from southern Africa over the variant, citing concerns that it’s more transmissible. But top South African scientists told reporters Friday that little is known yet about Omicron. Scientists are trying to gather more information about its transmissibility, whether it can evade immunity bestowed by vaccines or COVID-19 recovery, and whether it causes severe disease at a higher rate than other strains. “Information on the virus is still evolving and no major conclusions can be drawn as yet,” Dr. Christopher Nyanga, Botswana’s health secretary, said in a statement dated Nov. 26. Coetzee told The Guardian that experts weighing in how the variant may affect people were engaging in speculation.
“It may be it’s highly transmissible, but so far the cases we are seeing are extremely mild,” she said. “Maybe two weeks from now I will have a different opinion, but this is what we are seeing. So are we seriously worried? No. We are concerned and we watch what’s happening. But for now we’re saying, ‘OK: there’s a whole hype out there. [We’re] not sure why.’”
The United States ban on travelers from southern Africa was driven by a desire to better understand Omicron, health official Dr. Anthony Fauci said during a television appearance on Saturday. “We want to give us some time to really fill in the blanks of what we don’t know right now,” he said. South Africa on Saturday reported 3,220 new laboratory-confirmed COVID-19 cases, an increase of 9.2 percent from the prior day. Still, the average daily cases are down considerably from the summer, when it peaked around 11,500. Just 30 new hospital admissions with COVID-19 were reported in the last 24 hours, but another African expert warned that Omicron could lead to healthcare systems being overburdened. “I’m worried that as the numbers go up that public health institutions are going to be overwhelmed,” Rudo Mathivha, head of the intensive care unit at Soweto’s Baragwanath Hospital, told a recent briefing. Mathivha said the hospital is seeing different patients than earlier in the pandemic, including more younger people. NN: we are in a information gathering phase…….
OPEC postpones technical meetings to evaluate Omicron impact
Netherlands registers 13 Omicron strain cases France to tighten measures over Omicron variant… Australia registers 2 cases of Omicron variant
Dutch health authorities said on Sunday that 13 cases of the newly detected Omicron variant of COVID-19 have been registered in the country. The Dutch National Institute for Health (RIVM) noted that all the Omicron infections were confirmed among people who arrived in the country from South Africa, where the strain was first detected. The authorities added that a total of 61 people out of 600 who flew to the Netherlands on the last two flights before it imposed a travel ban tested positive for COVID-19 and are in isolation while sequencing is carried out to determine if they have the Omicron strain. “The new variant may be found in more test samples,” RIVM added.
France to tighten measures over Omicron variant
French Health Minister Olivier Veran said on Sunday that the country will tighten its COVID-19 measures due to the emergence of the Omicron variant. Speaking at a vaccination center in Paris, Veran stated the new strain is likely already in circulation in France even though no cases have been confirmed yet. “There is no identification yet, but it’s a matter of hours,” the minister stated.
Australia registers 2 cases of Omicron variant
Australian authorities said on Sunday that two cases of the new COVID-19 variant Omicron have been registered in the country. “The two positive cases, who were asymptomatic, are in isolation in the special health accommodation. Both people are fully vaccinated,” New South Wales Health stated. Australia is one of the countries with the strictest coronavirus measures and Health Minister Greg Hunt stressed that the government is considering imposing further restrictions due to the emergence of Omicron, a variant that scientists warned could be immune to existing vaccines.
UK, Germany and Italy detect Omicron variant cases, Israel closes borders…..Now you know why your barking dog at the gate was going crazy
Britain, Germany and Italy detected cases of the new Omicron coronavirus variant on Saturday and British Prime Minister Boris Johnson announced new steps to contain the virus, while more nations imposed restrictions on travel from southern Africa. The discovery of the variant has sparked global concern, a wave of travel bans or curbs and a sell-off on financial markets on Friday as investors worried that Omicron could stall a global recovery from the nearly two-year pandemic. Israel said it would ban the entry of all foreigners into the country and reintroduce counter-terrorism phone-tracking technology to contain the spread of the variant. The two linked cases of Omicron detected in Britain were connected to travel to southern Africa, British health minister Sajid Javid said. Johnson laid out measures that included stricter testing rules for people arriving in the country but that stopped short of curbs on social activity other than requiring mask-wearing in some settings. “We will require anyone who enters the UK to take a PCR test by the end of the second day after their arrival and to self-isolate until they have a negative result,” Johnson told a news conference. People who had come into contact with people testing positive for a suspected case of Omicron would have to self-isolate for 10 days and the government would tighten the rules on wearing face coverings, Johnson said, adding the steps would be reviewed in three weeks. The health ministry in the German state of Bavaria also announced two confirmed cases of the variant. The two people entered Germany at Munich airport on November 24, before Germany designated South Africa as a virus-variant area, and were now isolating, said the ministry, indicating without stating explicitly that the people had travelled from South Africa. In Italy, the National Health Institute said a case of the new variant had been detected in Milan in a person coming from Mozambique. Czech health authorities also said they were examining a suspected case of the variant in a person who spent time in Namibia. Omicron, dubbed a “variant of concern” by the World Health Organization, is potentially more contagious than previous variants of the disease, although experts do not know yet if it will cause more or less severe Covid-19 compared to other variants. England’s Chief Medical Officer Chris Witty said at the same news conference as Johnson that there was still much uncertainty around Omicron, but “there is a reasonable chance that at least there will be some degree of vaccine escape with this variant”. The variant was first discovered in South Africa and has also since been detected in Belgium, Botswana, Israel and Hong Kong. The Dutch authorities said 61 of around 600 people who arrived in Amsterdam on two flights from South Africa on Friday had tested positive for Covid-19. Health authorities were carrying out further tests to see if those cases involved the new variant. One passenger who arrived from South Africa on Friday, Dutch photographer Paula Zimmerman, said she tested negative but was anxious for the days to come. “I’ve been told that they expect that a lot more people will test positive after five days. It’s a little scary the idea that you’ve been in a plane with a lot of people who tested positive,” she said. Financial markets plunged on Friday, especially stocks of airlines and others in the travel sector. Oil prices tumbled by about $10 a barrel. It could take weeks for scientists to understand fully the variant’s mutations and whether existing vaccines and treatments are effective against it. NN: NN i know you know i told you so. But that is our job. You expect us to see the future. If not we would be little more then The Wall Street (bullshit) Journal that tells you what happened and PRETENDS they got their first. This week will be important to us. Paid Staff from Washington DC to New York, London, Belgium, Spain, France, Israel and Gibraltar are on RED ALERT.
the Botswana variant out of Africa again
SOUTH AFRICA has been placed back on the red list as a deadly variant of coronavirus spreads across the country, – but now the Botswana variant has reached the UK. A new coronavirus variant has seen South Africa placed back on the UK’s red travel list with fears the variant has the potential to thwart immunity from vaccines or previous infections. The B.1.1.529 Covid variant – also known as the Botswana variant – has only been seen in a handful of cases so far, but the potential to evade immunity has seen it dubbed the “worst we’ve seen so far” by officials. Caes have increased quickly across South Africa, prompting the UK Government to place the country back on the red travel list. Approximately 500 to 700 people arrive in the UK from South Africa each day, however with Christmas nearing this number is expected to grow. Anyone who has arrived in the UK from South Africa over the past 10 days will be invited to take a Covid test. Health Secretary Sajid Javid said flights from South Africa, Namibia, Lesotho, Botswana, Eswatini and Zimbabwe will be suspended from midday on Friday. He said all six countries will be added to the red list, and from 4am on Sunday anyone arriving to the UK from those countries will be required to isolate in hotels. NN: Things are happening fast. My guess is they realize they fucked up big time. One possibility is this mutation will burn itself out fast. We calculate the infection rate. The original virus saw 1 person infecting 3 people. The delta virus score 8 people infected from 1 individual. The most contageous virus till now small pox 1 person infected 15 people. The new corona virus mutation The B.1.1.529 Covid variant may be 50. Meaning 1 person infects 50
UK confirms 2 Omicron COVID cases….. First suspected Omicron case found in Germany, Czech Republic
https://youtu.be/Jc0yPIUQrOs
The new Omicron variant of COVID-19, which is believed to be more transmissible, has been detected in the United Kingdom, Health Secretary Sajid Javid announced. One of the cases was confirmed in Chelmsford and another in Nottingham and both individuals were ordered to self-isolate. “This pandemic is far from over. If there’s one thing that everyone can be doing, is if they’re eligible, please take your vaccine,” the health minister said. There seems to be a connection between the two infections and both are liked to southern Africa, according to Javid. The announcement comes after Downing Street added multiple African countries to its red travel list.
First suspected Omicron case found in Germany, Czech Republic
The second case of the Omicron coronavirus variant has suspectedly appeared in Europe as both Germany and the Czech Republic have reported African travelers positive for the virus. “Omicron variant has, with a very high degree of likelihood, already arrived in Germany,” said Kai Klose, a German minister in the state of Hesse. Klose noted that the individual has an infection with “multiple mutations typical of Omicron.” The Czech Ministry of Health also announced that a passenger arriving from Egypt tested positive for, what is believed to be the new virus strain. Both samples are being further investigated. NN: you cant find what you are not looking for, in the US its worse. They don’t want to look…. The government does virtually no DNA sequencing of cronavirus samples. What little is done is mostly privately funded by universities and drug companies. And big Pharama reguards testing results as trade secrets. Scientists sign non disclosure agreements. And any release of studies are rarely peer reviewed and heavily redacted….
Delta, United not Cancelling South Africa flights amid variant concerns
https://youtu.be/L-wkq9Mzn74
WASHINGTON (Reuters) – Delta Air Lines and United Airlines said on Friday they do not plan any changes to their South Africa-U.S. routes after the White House said it plans to impose new travel curbs on southern Africa starting Monday amid concerns about a new COVID-19 variant. Delta and United are the only U.S. passenger carriers that have direct flights to southern Africa. Delta currently operates service between Johannesburg and Atlanta three times weekly and the U.S. airline said “there are no planned adjustments to service at this time.” The White House said it plans to bar entry to most non-U.S. citizens who have been in South Africa and seven other African countries within the last 14 days. Airlines for America, a trade group representing major U.S. passenger and cargo carriers, said Friday it remains “in communication with the U.S. government as specifics remain unknown at this time and there are many unanswered questions. Amid this rapidly evolving situation, it is critical that U.S. government decisions regarding international travel restrictions and requirements be rooted in science.” United said it “remains committed to maintaining a safe and vital link for essential supplies and personnel to transit between the African continent and the United States as feasible. We don’t have any adjustments to our schedule at this time.” United currently operates five flights per week between Newark and Johannesburg and reiterated Friday it plans to restart service between Newark and Cape Town on Dec. 1 as scheduled. NN: what fuckers. The airlines are still flying not cancelling any flights to Africa. Worse yet they are still booking flights. But let me show you how corrupt the system is. All international passengers are suppose to have a green vaccination pass and present a negative test 24 hours before flying. Rotterdam airport instituted emergency testing on landing. And a KLM flight from S,Africa to their surprise were full of infected people. 61 passengers tested positive. How is that possible. Answer desperate airlines really are not doing the proper screening. Welcome to my world.