Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply.
supported the U.S. dollar
Brent crude fell $1.05, or 1.3%, to $78.30 a barrel by 1020 GMT. It touched $77.74 earlier, the lowest since Jan. 3. U.S. crude was down $1.24 or 1.7% to $73.01 and touched $72.25, the lowest since late December. Brent settled below $80 on Tuesday for the only the second time in 2022 and has unwound the year's gains, which had lifted prices close to the all-time high of $147 in March after Russia invaded Ukraine.the Vedomosti daily reported on Wednesday
"The geopolitical risk premium has all but disappeared, but inflation concerns have not," oil broker PVM said. "Clearly, investors are not worried the least about any potential supply shortage that might be the result of the price cap and the EU ban on Russian oil sales."the most sweeping changes to its anti-COVID regime since the pandemic began, loosening rules that curbed the spread of the virus but hobbled the world's second largest economy and sparked protests.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Mars at Opposition 2022: The Full Moon Occults Mars Wednesday NightA rare event transpires Wednesday night, as the Full Moon occults Mars near opposition.
Lire la suite »
Famed Comedy Club Carolines Set to Close Times Square Location at End of 2022Famed comedy club Carolines, a Times Square mainstay, will be closing after operating near the heart of midtown for three decades.
Lire la suite »
Over $53 million raised by 100,000 donors for nonprofits on Colorado Gives Day 2022The event generated more than $53 million for 3,435 nonprofits, nearly reaching 2021's record-breaking total of $54.4 million. This is Denver7’s fourth year sponsoring the statewide day of giving.
Lire la suite »