{"id":806,"date":"2021-10-05T10:36:52","date_gmt":"2021-10-05T10:36:52","guid":{"rendered":"https:\/\/www.innov8fs.co.za\/blog\/?p=806"},"modified":"2026-03-18T11:46:44","modified_gmt":"2026-03-18T11:46:44","slug":"oil-rally-as-demand-soars","status":"publish","type":"post","link":"https:\/\/www.innov8fs.co.za\/blog\/2021\/10\/05\/oil-rally-as-demand-soars\/","title":{"rendered":"Oil rally as demand soars"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-808 aligncenter\" src=\"https:\/\/www.innov8fs.co.za\/blog\/wp-content\/uploads\/2021\/10\/Banner_for_Savings_month_email.jpg\" alt=\"\" width=\"713\" height=\"350\" srcset=\"https:\/\/www.innov8fs.co.za\/blog\/wp-content\/uploads\/2021\/10\/Banner_for_Savings_month_email.jpg 713w, https:\/\/www.innov8fs.co.za\/blog\/wp-content\/uploads\/2021\/10\/Banner_for_Savings_month_email-300x147.jpg 300w\" sizes=\"auto, (max-width: 713px) 100vw, 713px\" \/><\/p>\n<p><strong>Market overview<\/strong><br \/>\nThe FTSE\/JSE All Share closed last week at 63\u00a0661.02, decreasing by 0.44% during the week. Consumer Staples and Consumer Discretionary stocks were the biggest detractors decreasing by 3.87% and 1.87% respectively during the week. Oil and Gas stocks were the biggest contributors, increasing by 7.19% over the same period.<\/p>\n<p>Looking at the MSCI indices, developed markets decreased by 2.52% during the previous week while emerging markets decreased by 1.40% over the same period.<\/p>\n<p><strong>US Consumer Confidence Index takes a knock<\/strong><br \/>\nThe US Consumer Confidence Index dropped during the course of September as some states are still struggling\u00a0to contain the spread of the Delta variant. The index dropped to 109.3 points, from a revised 115.2 points in August.<\/p>\n<p>The Present Situation Index, based on consumers&#8217; assessment of current business and labour market conditions, also fell to 143.4 points from last months&#8217;s 148.9 points.<\/p>\n<p><strong>SA producer inflation increases<\/strong><br \/>\nSA producer price inflation rose by 7.2% year-on-year in August, from 7.1% previously. On a monthly basis, producer price inflation increased to\u00a00.8%, from 0.7% previously. The main drivers of annual inflation were petroleum, chemical, rubber, plastic\u00a0as well as food, beverage, and tobacco products. The index measures inflation based on the input costs to producers.<\/p>\n<p><strong>Oil rally as demand soars<\/strong><br \/>\nThe price of\u00a0oil closed the week at $79.28 a barrel. Oil prices have risen over the past weeks due to supply disruptions and a rise in global demand, pushing the price above $80 during the week for the first time in 3 years.<\/p>\n<table border=\"0\" width=\"773\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"3\" valign=\"middle\" width=\"773\">\n<div><u><strong>Weekly indicators &#8211; as at 01 October\u00a02021<\/strong><\/u><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" align=\"center\">\n<table border=\"0\" width=\"746\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"middle\" width=\"167\">\n<div>SELECT INDICES<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"65\">\n<div>level<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"77\">\n<div>weekly return<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"71\">\n<div>one-year return<\/div>\n<\/td>\n<td valign=\"middle\" width=\"14\"><\/td>\n<td valign=\"middle\" width=\"132\">\n<div>FIXED INTEREST<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"68\">\n<div>level<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"78\">\n<div>one week ago<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\" width=\"74\">\n<div>one year ago<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>SA Equities: All Share Index<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">63 661.02<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>-0.44%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">22.11%<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>SA Borrowing Rate (Prime)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>7.00%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>7.00%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>7.00%<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>Developed Market Equities: MSCI World ($)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">3 022.83<\/td>\n<td align=\"center\" valign=\"middle\">-2.52%<\/td>\n<td align=\"center\" valign=\"middle\">30.34%<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>SA Lending Rate (Cash)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>3.50%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>3.50%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>3.50%<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>Emerging Market Equities:<br \/>\nMSCI Emerging<br \/>\nMarkets ($)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>1 246.60<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">-1.40%<\/td>\n<td align=\"center\" valign=\"middle\">17.95%<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>Global Lending Rate (US 10-yr)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>1.47%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">1.46%<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>0.70%<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>PPS Balanced Index<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">3 368.37<\/td>\n<td align=\"center\" valign=\"middle\">-0.44%<\/td>\n<td align=\"center\" valign=\"middle\">23.19%<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\"><\/td>\n<td align=\"center\" valign=\"middle\"><\/td>\n<td align=\"center\" valign=\"middle\"><\/td>\n<td align=\"center\" valign=\"middle\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" valign=\"middle\" height=\"5\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>LOCAL INFLATION (y\/y)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\"><\/td>\n<td align=\"center\" valign=\"middle\">latest<\/td>\n<td align=\"center\" valign=\"middle\">previous<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\"><\/td>\n<td align=\"center\" valign=\"middle\">\n<div>yield (YTM)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>weekly return<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>one-year return<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" valign=\"middle\">\n<div>CPI (consumer inflation)<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">4.9%<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>4.9%<\/div>\n<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>All Bond Index<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>9.98%<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">-0.79%<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>12.82%<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" valign=\"middle\" height=\"5\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>COMMODITIES IN USD<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>level<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>one week ago<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>one year ago<\/div>\n<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>CURRENCIES<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>level<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>one week ago<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>one year ago<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>Gold<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">1 757.05<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>1 746.80<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>1 903.05<\/div>\n<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>R\/$<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">14.88<\/td>\n<td align=\"center\" valign=\"middle\">14.94<\/td>\n<td align=\"center\" valign=\"middle\">16.54<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>Platinum<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">967.50<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>992.50<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">890.45<\/td>\n<td valign=\"middle\"><\/td>\n<td valign=\"middle\">\n<div>R\/\u20ac<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">17.25<\/td>\n<td align=\"center\" valign=\"middle\">17.54<\/td>\n<td align=\"center\" valign=\"middle\">19.37<\/td>\n<\/tr>\n<tr>\n<td valign=\"middle\">\n<div>Oil<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">\n<div>79.28<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">78.09<\/td>\n<td align=\"center\" valign=\"middle\">39.27<\/td>\n<td valign=\"middle\">\n<div><\/div>\n<\/td>\n<td valign=\"middle\">\n<div>R\/\u00a3<\/div>\n<\/td>\n<td align=\"center\" valign=\"middle\">20.16<\/td>\n<td align=\"center\" valign=\"middle\">20.46<\/td>\n<td align=\"center\" valign=\"middle\">21.38<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market overview The FTSE\/JSE All Share closed last week at 63\u00a0661.02, decreasing by 0.44% during the week. Consumer Staples and Consumer Discretionary stocks were the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-806","post","type-post","status-publish","format-standard","hentry","category-innov8ions"],"_links":{"self":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/comments?post=806"}],"version-history":[{"count":3,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/806\/revisions"}],"predecessor-version":[{"id":810,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/806\/revisions\/810"}],"wp:attachment":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/media?parent=806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/categories?post=806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/tags?post=806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}