Tuesday 21st December 2021
Energy markets are dominating market moves in the run up to Christmas. Oil prices have fallen significantly on fears that travel demand will fall as Omicron gains strength, whilst gas prices in Europe continue to rise on supply constraints from Russia. Equities have also been hit hard by the virus uncertainty, on thinner holiday trading. NAB’s Ray Attrill says US numbers are just a couple of weeks behind the UK. And geopolitics is also at play, particularly in Chile and Turkey. Even in the UK Boris Johnson can’t be assured he won’t make it through Christmas without a roasting from his backbenchers.