Oil Prices Sees a Huge Drops!!! Here are the Key factors Affecting

Oil fell by almost $1 on Tuesday as concerns over a possible recession and China’s Covid-19 strict policy.

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Tight global supply and expectations of a pick-up in fuel demand with the U.S. summer driving season.

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Investment banks including UBS and Goldman Sachs have cut their 2022 China growth outlooks.

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The head of the IMF, meanwhile, said she does not expect a recession for major economies but cannot rule it out.

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Downgraded China GDP growth forecasts and increasing worries about restrictions in Beijing have pushed oil prices lower.

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Brent crude fell 21 cents, or 0.2%, to $113.21 a barrel. U.S. West Texas Intermediate (WTI) crude dropped 25 cents.

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Global economic growth is precipitously declining under the collective impact of rising interest rates.

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Oil prices have surged this year, with Brent crude hitting $139 a barrel in March for its highest since 2008.

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Oil fell by almost $1 on Tuesday as concerns over a possible recession and China’s Covid-19 strict policy.

Oil Prices Sees a Huge Drop- Key Reasons

Tight global supply and expectations of a pick-up in fuel demand with the U.S. summer driving season.

Oil Prices Sees a Huge Drop- US Driving Season

Investment banks including UBS and Goldman Sachs have cut their 2022 China growth outlooks.

Oil Prices Sees a Huge Drop- China GDP Growth

The head of the IMF, meanwhile, said she does not expect a recession for major economies but cannot rule it out.

Oil Prices Sees a Huge Drop- What IMF Head

Downgraded China GDP growth forecasts and increasing worries about restrictions in Beijing have pushed oil prices lower.

Oil Prices Sees Huge Drop- China GDP Forecast

Brent crude fell 21 cents, or 0.2%, to $113.21 a barrel. U.S. West Texas Intermediate (WTI) crude dropped 25 cents.

Oil Prices Sees a Huge Drop- Brent Crude

Global economic growth is precipitously declining under the collective impact of rising interest rates.

Oil Prices Sees Huge Drop- Rising Interest Rate

Oil prices have surged this year, with Brent crude hitting $139 a barrel in March for its highest since 2008.

Oil Prices Sees a Huge Drop- Major Price Surge

Swipe up for More Stories related to Tchnology, Gadgets, Finance, & Other Trending News around the Globe.

Oil Prices Sees a Huge Drop- Swipe Up!!!