Tag Archives: third

Oil nosedives as concern over third wave of Covid-19 crushes demand

The price of crude plummeted by over 4% on Tuesday, with concerns that new coronavirus curbs and slow vaccine rollouts in Europe will hurt a recovery in demand.

Benchmark Brent Crude had dropped 4.12% to $ 61.96 a barrel by 13:00 GMT, while US West Texas Intermediate (WTI) was down 3.95% to $ 59.13.

“Continental Europe is tightening the coronavirus measures and thereby further restricting mobility,” Commerzbank said, adding: “This is likely to have a correspondingly negative impact on oil demand.”

Experts also say physical crude markets are indicating that demand is lower, and much more so than the futures market. “Physical prices have been weaker than futures have been suggesting for several weeks now,” Lachlan Shaw, National Australia Bank’s head of commodity research, said, as quoted by Reuters.
Also on rt.com Germany to impose its harshest Covid-19 lockdown yet for Easter holiday as Merkel asks churches to hold online services only
Extended lockdowns have been reintroduced across the continent due to the threat of a third wave of Covid-19 infections, with a new variant of the coronavirus presenting a particular risk.

Europe’s biggest oil consumer, Germany, announced on Tuesday that it is extending a nationwide lockdown until April 18, as the number of infections in the country has soared. France and Poland have also reintroduced partial lockdowns, with both nations battling a sharp rise in cases in recent weeks.

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One third of all countries worldwide COMPLETELY closed to international tourism – UN

The latest data from the United Nation World Tourism Organization (UNWTO) showed that 32 percent of destinations worldwide – 69 in total – are now completely closed for global tourism as a result of the coronavirus pandemic.

Of those, just over half – 38 destinations – have been completely closed for at least 40 weeks, and 34 percent of all destinations are still partially closed to international tourists.

According to the UNWTO report, the emergence of new variants of the Covid-19 virus has prompted many governments to reverse efforts to ease restrictions on travel, with total closures to tourists most prevalent in Asia and the Pacific nations, and Europe. 

“Travel restrictions have been widely used to restrict the spread of the virus. Now, as we work to restart tourism, we must recognize that restrictions are just one part of the solution. Their use must be based on the latest data and analysis, and consistently reviewed so as to allow for the safe and responsible restart of a sector upon which many millions of businesses and jobs depend,” said UNWTO Secretary-General Zurab Pololikashvili.

The report said that regional differences with regard to travel restrictions remain. “Of the 69 destinations where borders are completely closed to tourists, 30 are in Asia and the Pacific, 15 are in Europe, 11 are in Africa, 10 are in the Americas, and three are in the Middle East.”

For more stories on economy & finance visit RT’s business section


Italy holidays: Latest FCDO update ahead of Italian lockdown as third wave hits Europe

The rise in Covid cases comes as Italian authorities stopped the use of a batch of about 300,000 AstraZeneca vaccine doses after three previously healthy recipients in Sicily died.

A separate batch of the coronavirus vaccine has also been withdrawn in Austria, Luxembourg, Latvia, Lithuania and Estonia amid concerns of recipients suffering serious blood clots.

Covid infections are now rising in almost every large European country, except Spain and Portugal, mainly because of the spread of mutant strains from overseas.

In fact, the situation in Portugal has improved to the extent it will likely be removed from the UK’s ‘red list,’ it has been reported.

Grant Shapps, Transport Secretary, is expected to announce changes to the UK’s ‘red list’ travel ban on Monday, with restrictions on Portugal lifted.

Cruise: Virgin Voyages set to launch third new ship sailing from Greece

Virgin Voyages was due to set sail on the maiden voyages of its first cruise ship, Scarlet Lady in 2020. While the pandemic may have put things on hold, it has not dampened the cruise line’s outlook.
The Richard Branson-owned cruise holiday provider has plans to launch a third cruise ship.

Named Resilient Lady, the latest ship will join the line’s two existing luxury liners – Scarlet Lady and Valiant Lady.

Resilient Lady will be the second of the cruise line’s ships to venture through the Mediterranean, setting sail from Athens, Greece on two seven-night itineraries.

Stops will include the Greek Islands, we well as the Adriatic coasts, including Croatia and Montenegro.

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“We know the time to travel is on the horizon, and Virgin Voyages is here so that we can keep dreaming of irresistible vacations ahead.”

Though the exact details of the Resilient Lady’s interior and amenities have yet to be revealed, if they are anything like the cruise line existing ships, sailors are in for a treat.

Both ships boast an array of restaurants, shopping experiences and activities for guests to enjoy.

When it comes to dining, guests can select from a range of restaurants with menus composed by Michelin-star chefs.

From vegetarian focussed meals to lively Korean BBQ or Upscale Mexican, Virgin Voyage’s palet takes inspiration from all corners of the globe.

The cruise line has included state-of-the-art technology, including a special champagne delivery service, in order to add an extra layer of opulence to the guest experience.

Meanwhile, specially designed cabins offer a home away from home for travellers at the end of the day, with interior’s reflective of Virgin’s sleek brand.

Jamie Douglas, senior product design manager for Virgin Voyages, explained: “The idea was to consider Sailor needs and comforts and create suites that were social, inspirational and relaxing so that they wanted to spend time in them.

“We wanted to use all aspects of the Virgin brand including our musical legacy, elements of Virgin Galactic and inspiration from Richard Branson’s Necker Island.”

Part of the experience even includes a dedicated island for cruise guests to stop off at.

The Beach Club at Bimini, which Scarlet Lady was due to include in its itinerary, promises lush greenery, waterfront cabanas, beach bars and an Instagram-ideal lagoon-style pool.

what’s more, the cruise tycoon was even due to collaborate with musicians such as DJ Mark Ronson to offer exclusive performances for visitors to the island.

Virgin Voyages has postponed all sailings for now amid the ongoing Covid pandemic and subsequent travel restrictions.

A restart date is yet to be confirmed.