top of page
  • Writer's picturePopCan

Oil drops for a second week as recession fears magnify

BNN: 'West Texas Intermediate settled above US$97 a barrel, down 6.9 per cent this week. Oil saw another hugely volatile week of trading, which saw prices at one point wipe out all of their gains since Russia invaded Ukraine. Earlier this week, a report showed that US inflation rose to its highest in four decades while high US gasoline prices are starting to take their toll on consumption.

'“Oil has been volatile, particularly to the downside in recent days because of concerns about the state of the Chinese economy and the red-hot inflation print from the US this week,” said Rohan Reddy, director of research at Global X Management.'

3 views1 comment

Recent Posts

See All

Russia cuts off gas to Latvia

MSN: 'Russian energy giant Gazprom says it has suspended gas supplies to Latvia - the latest EU country to experience such action amid tensions over Ukraine. Gazprom accused Latvia of violating condit

Hearing for Ontario clot-shot passports postponed

JCCF: 'The Justice Centre regrets to announce that the Ontario Superior Court of Justice has postponed the constitutional challenge to the Ontario government’s now-cancelled vaccine passport mandates.

1 komentaras

Citation Moving Marvels
Citation Moving Marvels

Oil prices fell for a second week in a row, with benchmark U.S. crude falling to its lowest level in nearly two months amid fears of a broader recession.

Click here Best Auto Repair Services in Anchorage AK

bottom of page