Sunday , February 28 2021

Oil: The collapse of oil leads to the fall of the Columbia Stock Exchange in the economy

Brent raw drum for the January delivery that opened today in London and London quoted at $ 65.34, About 0.19% less than last night late.

The oil ended in the evening for 65.47 dollars, 6.63% less than at the end of the previous session (on Monday), the lowest level in about eight months, given the concerns about falling demand.

At the beginning of October, Brent has risen to the top in four years prices are about $ 86.74 because they are afraid of US sanctions against Iran, although prices have fallen markedly since then.

This collapse last night's black gold price came after Organization of Petroleum Exporting Countries (OPEC) The demand for 15 Member States is expected to decline by 3,4% in 2019 compared to this year.

In an attempt to mitigate the impact of this decline, the cartel plans to reduce its total production by 1.1 million barrels per day (MBD), which is equivalent to the expected decline.

In Colombia, the effects of the fall in international oil prices are reflected in the fall of the Stock Exchange for 2,29% of its capitalization index (Colcap) which was closed in 1,387.37 units.

Names were discussed during the day 81.857 million Colombian peso (approximately 25.6 million dollars) in 2020 operations.

The stock with the highest sales volume was Ecopetrol, which was a negative variation of 5.81%.

The most important part of the session was for CLH (1.59%), Pfdavvnda (1.42%) and Conconcret (1.39%).

While the names with the highest reduction were Terpel (6.95%), Ecopetrol (5.81%) and Celsius (4.33%).

So far this year, the Colcap index recorded a negative variation of 8.34%.

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