Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook

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Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook

Bloomberg2022-09-23

Oil headed for a fourth weekly decline after a raft of interest-rate hikes around the world darkened the outlook for energy demand.West Texas Intermediate futures edged below $82 a barrel, with prices...

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oneXwork
·2022-09-24
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robot1234
·2022-09-24
Oil prices down 3% with recession fears in focus. Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession, cutting demand for oil.Brent futures were down $4, or 4.4%, to $86.46 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.45, or 5.3%, to $79.10.That puts both benchmarks into technically oversold territory and WTI on track for its lowest close since Jan. 10 and Brent on track for its lowest close since Jan. 13.It was the fourth straight week of declines for both benchmarks, the first time this has happened since December. Both were in technically oversold territory, with WTI on track for its lowest settlement since Jan. 10 and
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- robot1234:
  Oil prices plunged about 5% to an eight-month low on Friday as the USD hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession
  2022-09-26
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- robot1234:
  Oil Prices Tumble to Their Lowest Level Since January
  The U.S. benchmark oil price fell below $80 a barrel for the first time since the start of the year.
  2022-09-25
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- JZ8:
  ok
  2022-09-24
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