Business Maverick: Oil Plunges as China Slowdown Spurs Concern Over Demand Outlook

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 84%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Oil slumped as poor manufacturing figures across the globe fuelled concerns that a global slowdown may sap demand for crude.

West Texas Intermediate briefly slid below $93 a barrel, falling as much as 6.3% on Monday. Weekend data indicated a surprise contraction in Chinese, highlighting the cost of mobility curbs to tackle Covid outbreaks. Purchasing managers’ indexes also weakened in South Korea and the euro region’s four largest members.

Oil trading has been volatile in recent months as concerns about a slowdown hurt demand for commodities even as underlying signals point to a relatively tight physical market. The US economy shrank for a second quarter while the Federal Reserve hiked rates by 75 basis points.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités