The local bourse loses ground on Monday, while oil rises to a one-year high after a series of drone and missile attacks in Saudi Arabia
08 March 2021 – 11:35
The JSE was weaker on Monday morning, with global markets under pressure due to the threat of rising inflation. Meanwhile, oil rose to a one-year high after a series of drone and missile attacks in Saudi Arabia.
Brent crude oil price rose above $70 a barrel for the first time since January 2020, after an important Saudi oil site came under attack on Sunday. While such assaults rarely result in extensive damage, their frequency has created unease in the oil markets. The surprise decision from oil cartel Opec and its allies last week to keep output unchanged Crude oil had already boosted prices. ..