HomeEconomyOil fell sharply on...

Oil fell sharply on falling demand

The focus of the market this week is the meeting of the US Federal Reserve, as a result of which the base interest rate may rise again significantly.

World prices for benchmark oil grades are falling on the fears of market participants about the prospects for economic growth and demand for energy resources. This was confirmed by trading data on the morning of Monday, July 25.

Thus, at 09:20 Kyiv time, September futures for Brent on the London ICE Futures exchange decreased by $1.49 (1.51%) to $96.89 per barrel.

The price of WTI futures for August in the electronic session on the New York Mercantile Exchange (NYMEX) decreased by $1.53 (1.62%) to $93.17 per barrel.

Today the spread between the current contracts for Brent and WTI is $3.72 in favor of Brent.

The focus of the market this week is the meeting of the US Federal Reserve System, as a result of which the Fed may again significantly increase the base interest rate. A serious tightening of monetary policy by the Fed, according to many experts, could lead to a recession in the US economy.

By early July, oil prices had fallen below $100 a barrel twice. Each time this happened against the backdrop of fears of a recession in the global economy.

News from Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...