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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Recession fears are back to haunt the oil markets

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 280814
    Join date : 2012-12-21
    • Post n°1

    Recession fears are back to haunt the oil markets Empty Recession fears are back to haunt the oil markets

    Post by Rocky Thu 13 Apr 2023, 5:33 am

    [size=52]Recession fears are back to haunt the oil markets[/size]
    • Today 11:45

    • 1 shares




    [You must be registered and logged in to see this link.]
    Information/Baghdad.. 
    Oil prices fell in early trading Thursday, after rising in the previous two sessions, as investors remained cautious due to persistent concerns about a possible recession in the United States and weak demand for oil. 
    Brent crude fell 38 cents, or 0.44 percent, to $86.93 a barrel, while US West Texas Intermediate crude fell 34 cents, or 0.41 percent, to $82.93. 
     
    The two benchmarks rose 2% on Wednesday to their highest levels in more than a month, as data showing a slower rise in US inflation spurred hopes that the Federal Reserve (US central bank) would stop raising interest rates. 
     
    However, the previous monetary tightening, which saw interest rates raised to their highest levels since 2007, increases concerns that the US central bank's focus on stopping inflation will curb economic growth and future demand for oil in the country that uses it the most in the world. 
     
    "The rally ended due to concerns that a possible US recession will weaken demand for crude oil," said Toshitaka Tazawa, an analyst at Fujitomi Securities. 
     
    The U.S. consumer price index rose 0.1% last month, less than economists' expectations for a 0.2% increase, and less than the 0.4% rise in February, boosting expectations that the Fed will hold off on raising rates after a possible increase in May. 
     
    On Wednesday, markets shrugged off a slight increase in US crude inventories, attributing it in part to a congressional-mandated withdrawal of oil from the US emergency reserve and lower exports at the beginning of the month. 
     
    The Energy Information Administration said yesterday that crude inventories rose by 597 thousand barrels last week, compared to analysts' expectations in a Reuters poll, down 600 thousand barrels. Gasoline and distillate inventories fell less than expected. 
     
    And the oil market rose two weeks ago after the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia agreed to reduce production. End 25
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Thu 14 Nov 2024, 7:07 pm