Business Maverick: Oil set for its worst losing run since 2020 on slowdown concerns

West Texas Intermediate, which traded above $92 a barrel after tumbling on Tuesday, has shed more than 6% in August, hitting the lowest since January mid-month. In the US, thehas been raising rates aggressively to quell inflation, while Europe is gripped by an energy crisis that may herald a recession. In Asia, growth in China, the top oil importer, has slowed.

Traders are also tracking an array of supply-related issues. While there has been significant unrest in both Libya andin recent days, oil output in both OPEC members appears to be unaffected so far. Separately, talks to revive an Iranian nuclear deal that may unlock greater crude exports have dragged on.

Oil’s decline in August marks the latest chapter in what’s been a tumultuous year, with prices driven higher in the first half by

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Business Maverick: Iran may drain offshore crude oil cache if nuclear deal reachedProgress towards an Iranian nuclear deal has thrown the spotlight onto a sizable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. Instead, he focuses on complementing his team and himself while people suffer. MuhammadQasimDreams I wish everyone can be like you, lisa , I haven't lost since you have been managing my trading account, I love you so much LisaMarkdona2
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