"Omicron" has made oil prices variable

Last Friday (November 26) "black swan" fell, South Africa's new variant virus "earthquake" global capital market, international oil prices plummeted by more than 10%, and the global stock market fell
.

South Africa's National Institute of Communicable Diseases announced on November 25 that the novel coronavirus variant B.
1.
1.
529
has been detected in South Africa.
The UK's Health Security Agency described it as "by far the worst" variant and referred to it as the "Omicron" variant
.
It has more mutations in the spike protein than other variants, and the number of mutations is twice that of the currently dominant Delta stock, causing market panic
.

The Omicron strain has more mutations in the spike protein than other variants, with twice as many mutations as the currently dominant Delta strain
.
These variants become diverse, mostly in areas
that interact with human cells.

For the sudden mutation of the virus, many overseas countries are urgently deploying control
.
Israel reportedly closed its borders on November 27, becoming the first country
to seal its borders to protect against variant strains.
US President Joe Biden announced that the United States will restrict flights
from 8 African countries, including South Africa, from November 29 due to the discovery of a new variant of the novel coronavirus.
In addition, the United Kingdom, Germany, Turkey, Russia and other countries are carrying out emergency control
.

After the first discovery of the new coronavirus variant Omicron in South Africa, market panic pervaded, global risk assets tumbled, and international crude oil futures plunged more than 10%
on Friday.

At present, as the bearish news is digested, oil prices have begun to rebound
after a heavy decline.
In the international market, as of the press release on November 29, the main contracts of U.
S.
WTI crude oil futures and Brent crude oil futures rose by 4.
4% and 3.
98%
respectively.

On November 29, the main contract of crude oil futures and the main contract of high and low sulfur fuel oil in the previous period updated a new low in two and a half months, as of the close, the main contract of SC crude oil fell 6.
12% to close at 473.
6 yuan, the main contract of high sulfur fuel oil fell 6.
94% to close at 2670 yuan, the main contract of low sulfur fuel oil fell sharply by 7.
80% to close at 3426 yuan, and the main contract of asphalt fell 6.
07% to close at 2940 yuan
.

Judging from the performance of the A-share market on November 29, there was no obvious panic
in the domestic market sentiment.
As of the close, the Shanghai Composite Index, Shenzhen Component Index and ChiNext Index closed at -0.
04%, 0.
22% and 1.
00% respectively
.

Starstone Investment analysis believes that although there is a risk that new strains will affect overseas economic recovery, their impact on domestic is limited
.
Especially from the current market performance, the transportation, commercial trade and other sectors that have been greatly affected by the epidemic have gradually recovered after opening low, or suggesting that the market's expectations for the domestic epidemic have not changed
significantly.