Loading…
The rand broke through R16 to the dollar on Thursday, trading at R16.22, amid fears over a new COVID-19 variant and a UK travel ban on South Africa. Brent crude was around $79.81 a barrel and WTI around $75.58, with oil slipping over 2% on Friday on surplus worries.
The rand's breach of R16 raises import costs for South African feed buyers. Oil's slide reflects weaker demand expectations that could ease energy-linked input costs.
za.investing.comNov 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
