Oil Erases Losses as Russia Threat Vies With Dollar’s Strength

Bloomberg2022-09-07

Oil erased a decline after Russian President Vladimir Putin underlined that his country won’t supply oil and fuel if price caps on the country’s exports are introduced.West Texas Intermediate crude ...

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Comments

Jane82
2022-09-08
Jane82
Ok
robot1234
2022-09-08
robot1234
Oil slides to seven-month lows on economic woes. Oil prices fell by more than $4 on Wednesday to their lowest since Russia invaded Ukraine on demand fears stoked by looming recession risks and downbeat Chinese trade data. Brent crude futures settled at $88 a barrel, for a loss of $4.83 or 5.2%. U.S. West Texas Intermediate crude settled $4.94, or 5.69%, lower at $81.94 per barrel. “The spectre of a demand-sapping recession across the Western world is closer to becoming reality as soaring inflation and rising interest rates dent consumption,” said PVM analyst Stephen Brennock. Credit rating agency Fitch on Tuesday said that the halting of the Nord Stream 1 pipeline has increased the likelihood of a recession in the euro zone.The European Central Bank is widely expected to raise interes
- robot1234:
  Oil prices were broadly steady on Friday but on track for a weekly decline on fears of sharp interest rate increases expected to curb global economic growth and fuel demand.
- robot1234:
  Oil prices near eight-month lows on demand concerns
- csyen:
  Ok
- BenGI:
  uhoh
- Zeniv:
  ok
PrincessLow
2022-09-07
PrincessLow
Ok

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