Weekly Oil report: worldwide lockdown possibility

While the world was hoping for lockdowns to come to an end globally, new strains of the virus got stronger in the 2nd week of January. China, the origin of the first coronavirus in 2020, locked down two cities of Shijiazhuang and Xingtai. The lockdowns expanded to a couple of other districts in Beijing. The United Kingdom is still under a national lockdown and new variants of the virus have been found in The US. The vaccinations are not working as fast as the virus. The stimulus check received by the households could not invoke the demand very much in America. Joe Biden intends to reveal another $1,400 check as the stimulus. The increasing number of individuals who filed for unemployment insurance during the past week was not promising either. Stronger DXY and VIX show that a big part of the market is a bit suspicious about the news upon the lockdowns. A stronger dollar besides all the expansionary policies of the US government indicates that the market is indecisive about the future and the demand. Infinity Galaxy reports the market a bit confused for the recent week. The upward trend is still very probable, as you can see in the chart of the Brent oil, but we should see how the virus spread will be taken care of. The upcoming week can be volatile for commodities such as oil. We may see a plunge in the WTI and Brent if the world gets into a consensus about the further outbreak of the virus. Contrarily, if the governments act successfully in controlling the virus and economy, demand would rise again.