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
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Oil Prices Sees a Huge Drop
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