liliked//@robot1234: Oil tumbl

2022-07-06

Oil tumbles as much as 10%, breaks below $100 as recession fears mount. Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products.

West Texas Intermediate crude, the U.S. oil benchmark, settled 8.24% lower at $99.50 per barrel. At one point WTI slid more than 10%, trading as low as $97.43 per barrel. The contract last traded under $100 on May 11. International benchmark Brent crude settled 9.45% hilower at $102.77 per barrel.

Oil Breaks Below $100 As Recession Fears Mount

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Comments

BlogArca
2022-07-06
BlogArca
War still ongoing, so oil price might be continue rise
BellaFaraday
2022-07-07
BellaFaraday
Thanks for your good post.
jas68
2022-07-06
jas68
lower is better.
x2espresso
2022-07-06
x2espresso
volatile like oil
SnailWalker
2022-07-06
SnailWalker
[serious] [serious]
MyoMyintYANG
2022-07-06
MyoMyintYANG
Hanze

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Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products.</p><p>West Texas Intermediate crude, the U.S. oil benchmark, settled 8.24%&nbsp;lower at $99.50 per barrel. At one point WTI slid more than 10%, trading as low as $97.43 per barrel. The contract last traded under $100 on May 11. International benchmark Brent crude settled 9.45% hilower at $102.77 per barrel.&nbsp;</p></body></html>","htmlText":"<html><head></head><body>\nliliked//<a href=\"https://laohu8.com/U/3561596430587504\">@robot1234</a>:<p>Oil tumbles as much as 10%, breaks below $100 as recession fears mount. Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products.</p><p>West Texas Intermediate crude, the U.S. oil benchmark, settled 8.24%&nbsp;lower at $99.50 per barrel. At one point WTI slid more than 10%, trading as low as $97.43 per barrel. The contract last traded under $100 on May 11. International benchmark Brent crude settled 9.45% hilower at $102.77 per barrel.&nbsp;</p></body></html>","text":"liliked//@robot1234: Oil tumbles as much as 10%, breaks below $100 as recession fears mount. Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, settled 8.24% lower at $99.50 per barrel. At one point WTI slid more than 10%, trading as low as $97.43 per barrel. The contract last traded under $100 on May 11. 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It was each contract’s highest level since 2008.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158107108","content_text":"Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products.West Texas Intermediate crude, the U.S. oil benchmark, slid 8%, or $8.67, to trade at $99.76 per barrel. The contract last traded under $100 on May 11.International benchmarkBrent crudeshed 7.7%, or $8.74, to trade at $104.76 per barrel Tuesday.Both contracts posted losses in June, snapping six straight months of gains as recession fears cause Wall Street to reconsider the demand outlook.Citi said Tuesday that Brent could fall to$65 by the end of this yearshould the economy tip into a recession.“In a recession scenario with rising unemployment, household and corporate bankruptcies, commodities would chase a falling cost curve as costs deflate and margins turn negative to drive supply curtailments,” the firm wrote in a note to clients.Citi has been one of the few oil bears at a time when other firms, such as Goldman Sachs, have called for oil to hit $140 or more.WTI spiked to a high of $130.50 per barrel in March, while Brent came within striking distance of $140. 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