Latest News

Oil Plummets Below $100 as Recession Risks Come to Forefront



Oil slumps $10/bbl as recession fears darken demand outlook

NEW YORK (Reuters) -Oil plummeted by about $10 a barrel on Tuesday on concerns of a looming global recession curtailing demand, even with expected supply disruptions as oil and gas workers in Norway began to strike. U.S. West Texas Intermediate (WTI) crude fell $9.30, or 8.6%, to $99.13 a barrel from Friday’s close. “The market is getting tight, but still we’re getting creamed and the only way you can explain that away is fear of recession in every risk asset,” said Robert Yawger, director, energy futures at Mizuho, New York.

Gold Price Forecast – Gold Markets Have Collapsed

Previous article

Only one thing will send gas prices back below $4 a gallon, analyst says

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News