U.S. Crude Oil Slides to Year's Lowest on Worries About More Fed Hikes

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U.S. Crude Oil Slides to Year's Lowest on Worries About More Fed Hikes

Seeking Alpha2022-12-07

WTI and Brent crude oil prices fell for a third straight session Tuesday, with the U.S. benchmark settling at its lowest level in nearly a year, as the broader market selloff and worries about more ...

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Mm101
·2022-12-07
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robot1234
·2022-12-07
Oil drops below $80 as demand doubt deepens. Global oil prices slid below $80 per barrel for the first time since January on Tuesday, extending a downward trend as growing concerns about global demand offset any bullish effects from an EU-led price cap on Russian oil sales. Brent crude futures settled down 4.03%, to $79.35 a barrel, their lowest since Jan. 4. West Texas Intermediate crude (WTI) fell 3.48%, to $74.26 after hitting its lowest level this year. “In this market, the sentiment is more negative,” said Eli Tesfaye, senior market strategist at RJO Futures. “We could be looking at $60-a-barrel WTI the way that things are going. I think $80s are going to be the new high, and I would be very surprised to see any higher than that.” Service-sector activity in China has hit a six-month l
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- koolgal:
  Thanks for sharing
  2022-12-21
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- pete13:
  Thnanks
  2022-12-07
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- d72dka333:
  lube up, people
  2022-12-07
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Global oil prices slid below $80 per barrel for the first time since January on Tuesday, extending a downward trend as growing concerns about global demand offset any bullish effects from an EU-led price cap on Russian oil sales. Brent crude futures settled down 4.03%, to $79.35 a barrel, their lowest since Jan. 4. West Texas Intermediate crude (WTI) fell 3.48%, to $74.26 after hitting its lowest level this year. “In this market, the sentiment is more negative,” said Eli Tesfaye, senior market strategist at RJO Futures. “We could be looking at $60-a-barrel WTI the way that things are going. I think $80s are going to be the new high, and I would be very surprised to see any higher than that.” Service-sector activity in China has hit a six-month l","text":"Oil drops below $80 as demand doubt deepens. 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