The Mid Market Pulse || Oil Inches Higher Despite Rising COVID-19 Cases In India. How?

This is the mid market pulse show on Kalkine live TV and lets get started with the mid market commentary.

The federal government's vaccine committee stance remained unchanged for its advisory for older people above the age of 50. After the rare blood clotting side effect was reported, the government stopped this vaccine usage for the younger generation. However, for the elderly ones, the study still says that even with relatively low levels of Covid-19 in the Australian community, the AstraZeneca vaccine can still safeguard many lives. 

On Tuesday, Prime Minister Scott Morrison suspended any direct passenger flights between India and Australia until 15 May due to the massive Covid-19 outbreak in India. It has left scores of Aussies in India desperately trying to get back to Australia. 

Contango Asset Management Limited unveiled its performance report for Q3 FY21 ended on 31 March 2021. It announced that its Funds Under Management (FUM) continued to grow robustly in the third quarter. The FUM increased on the back of robust net inflows across the group of funds managed by WCM Investment Management. It included an additional AU$ 18 million, which Generation Global Investment company Limited awarded the company.

Oil inches higher despite rising COVID-19 cases in India 

Crude oil prices inched higher on Tuesday as OPEC+ progressed on their plans to increase the production from May. The cartel believes that India's COVID-19 crisis will not have a long-lasting impact on crude oil demand. The cartel decided to go ahead with their plan to slightly ease the production cut from 1 May 2021. India, the third-largest crude oil importer and consumer, has reported more than 300,000 coronavirus cases for several consecutive days. 

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