Oil prices plummeted Friday as rising COVID-19 lockdowns in Europe startled investors along with talk that other nations may soon tap into strategic oil reserves.
During the week, West Texas Intermediate crude plunged over 5.8% to $ 76.10 a barrel, the longest streak of losses since late March 2020.
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| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| USE | UNITED STATES OIL FUND LP | 53.78 | -1.77 | -3.19% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 20.87 | -0.68 | -3.16% |
Meanwhile, the international benchmark, Brent crude, fell nearly 4% to $ 78.89 a barrel for the week.
Large energy company stocks fell in line with Exxon Mobil, which was heading for its worst percentage decline since November 2020.
| ticker | safety | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP. | 60.67 | -2.94 | -4.62% |
| CVX | CHEVRON CORP. | 111.91 | -2.54 | -2.22% |
Austria announced a national lockdown and a plan to require vaccinations as coronavirus infections hit a record high on Friday, forcing the government to withdraw promises that strict closings were a thing of the past.
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While the scope of the proposed mandate was unclear, a blanket requirement would be a first for a Western country. Chancellor Alexander Schallenberg said those who fail to comply will likely be fined, but did not provide any further details.
In Germany, too, the cases are at a record high.
The Associated Press contributed to this report.
