Kaohoon Morning Brief – 8 November 2021

1) Oil rose after Saudi Aramco raised selling price

Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, which suggested that demand remains strong at a time of tight supply. The U.S. said it would consider all tools at its disposal to guarantee affordable energy prices after OPEC and its allies stayed firm on their output plan to increase 400,000 barrels per day of oil production each month.


2) Bank of Thailand to hold policy rates until 2023

The Bank of Thailand is expected to hold policy rates at a record low of 0.50% in the upcoming meeting on November 10. The market estimated that the rate will remain at a record low until at least 2023 as the economy will continue to struggle amid fewer tourist arrivals due to the country being tourism-dominant for its GDP growth.


3) U.S. court freezes Biden’s vaccine mandate for business

An appeal from the U.S. court has frozen the vaccine mandate for business by President Joe Biden’s administration. The mandate, set to take effect on January 4, 2022, is required for workers at U.S. companies with at least 100 employees to be vaccinated against COVID-19 or be tested weekly. The ruling from the court of Appeals came after numerous Republican-led states filed legal challenges against the new rule.