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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil prices stabilize after a decline due to expectations of a decline in demand

    Rocky
    Rocky
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    Oil prices stabilize after a decline due to expectations of a decline in demand Empty Oil prices stabilize after a decline due to expectations of a decline in demand

    Post by Rocky Wed Jan 04, 2023 7:51 am

    Oil prices stabilize after a decline due to expectations of a decline in demand

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    Economy News _ Baghdad
    Oil prices stabilized today, Wednesday, after losses in the first sessions of 2023, which were fueled by expectations of a decline in demand, predictions of a recession in the United States, and China's measures with Corona.
    West Texas Intermediate crude settled below $77 a barrel, after it fell by 4.2% yesterday, Tuesday, in the largest decline since November, and Brent crude fell 3 cents, to reach $82.06, after it also fell by $4.24 yesterday, Tuesday.
    Oil analysts said, "The rise in coronavirus infections in China could affect demand in the near term." However, the easing of virus restrictions in the country should support the demand outlook in the medium to long term.
    And with the Federal Reserve raising interest rates to reduce inflation, a US recession is imminent, according to former New York Fed President William Dudley, who said it probably won't be as severe. Former Federal Reserve Chairman Alan Greenspan also said that recession is the "most likely outcome" for the world's largest economy.
    Crude oil made small gains last year, as weak liquidity exacerbated volatility.
    Sanctions imposed on Moscow over the conflict have sent oil flows to their lowest levels in 2022, as traders anticipate further potential retaliatory measures from Russia.


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    Added 01/04/2023 - 8:17 AM
    Updated 01/04/2023 - 1:09 PM


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