Oil Climbs on China’s Fuel Recovery Hopes.

0 101

Following a 6.4% decline the previous week, Brent crude futures increased 81 cents, or 0. 88%, to $92.44 per barrel.

The medium-term policy loans in China were renewed as the interest rate was held steady for a second month. Trade and economic data from China are anticipated.

President Xi’s strict COVID-19 policy has the world’s No. 1 economy in a precarious position, even though its third-quarter GDP growth may improve from the second quarter.

Looking ahead, it is anticipated that oil prices will continue to fluctuate as OPEC+ production cutbacks compress supply prior to the European Union’s oil embargo and future U.S. Federal Reserve interest rate increases cap price increases.


Leave A Reply

Your email address will not be published.

%d bloggers like this: