Oil rises, defying stock market falls as supply concerns persist

📆 6/5/2022 6:47 pm
📰 theSundaily

⏱ Reading Time:
19 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

'There are concerns over global growth and what it could mean for oil demand' theSun theSundaily Oil Price Global economy BusinessNews

prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil.

“There are concerns over global growth and what it could mean for oil demand,“ said Warren Patterson who heads ING’s commodities research. The Bank of England warned Thursday that Britain risks a double-whammy of a recession and inflation above 10% as it raised interest rates to their highest since 2009, hiking by quarter of a percentage point to 1%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Malaysia aims to regain palm oil market share in EU amid global shortage | Malay MailKUALA LUMPUR, May 6 ― Malaysia, the world's second largest palm oil producer, today said it plans to leverage the global edible oil shortage and “political tension in Europe” to regain market share after buyers shunned the commodity over environmental concerns. Palm oil is used to make...
Source: malaymail - 🏆 1. / 86 Read more »

M'sia aims to regain palm oil market share in EU amid global shortageRussia-Ukraine war has triggered global edible oil shortage.
Source: malaysiakini - 🏆 20. / 51 Read more »