Oil prices experienced a 2% drop as concerns over the US debt ceiling standoff and rising jobless claims weighed on market sentiment. The stronger US Dollar further added pressure to crude prices, reaching its highest level in a week against major currencies. Brent crude fell to around $75 per barrel from $78 earlier in the week, sparking recession fears amidst global economic concerns and political tensions. While this may imply cheaper fuel prices, a stronger dollar can strain countries that import oil.
#oil #crude #recession
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2 Comments
Funny…WION is not "this" because OPEC+ decided to remove 1 million oil barrels from the DAILY market!? That is 30 million oil barrel less a month. Maybe that is the REAL problem!!
Kuwait today facing water crisis supply due to earth warming no water supply Left