9 minutes agoFor the first time in January, oil prices drop significantly
Periskopi(4 years ago)
(4 years ago)Oil prices have dropped by about 5%, at the lowest level for the last eight months, while the dollar has achieved the largest power in the past two decades. Prices are falling amid fears of rising inflation will push major economies towards a recession, thus causing the decline [...]
Prices are falling amid fears of rising inflation would push major economies towards a recession, thus causing reduction in oil demand.
According to Reuters, crude oil prices in western Texas have dropped to $78.4, about 7% less than in the beginning.
The loss of oil has been marked for the past four weeks, the first time since September.
