Omicron Variant Affecting the Worldwide Chemical Sentiment

A chemical sentiment all over the world has become bearish because of the onset of the new variant. The Omicron variant is once again causing travel restrictions across the globe making the buyers more reluctant to purchase chemicals. The new variant is hindering economic recovery and undermining the demand for petrochemicals.

If the variant continues to spread and countries impose travel bans, oil prices are likely to decrease.