A new virus variant from South Africa is causing great uncertainty. Some countries have already reacted and restricted air traffic. According to experts, this new variant is highly contagious and could also penetrate the protective shield of the vaccines more easily. Great Britain and Israel, for example, restricted air traffic.
However, this also has economic effects. Oil prices fell sharply in early trading on Friday. A barrel (159 liters) of the North Sea Brent cost 80.17 US dollars (71.43 euros) in the morning. That was $ 2.05 less than the day before. The price of a barrel of the US WTI variety fell by $ 2.49 to $ 75.90.
Oil prices plummeted during the first corona wave in spring 2020. Countermeasures such as the closure of many areas of economic life were decisive. New variants of the coronavirus awaken memories of this time and stir up fears of economic damage that would also weigh on energy demand.