HONG KONG - Oil prices extended losses Tuesday after below-par US and Chinese data reinforced recession expectations, while equities were mixed as traders debate whether the data will allow central banks to temper their interest rate hikes.
Analysts said Tehran could provide 2.5 million barrels a day, giving a much needed shot in the arm to supplies, which have been hammered by sanctions on Russia in response to its invasion of Ukraine. "A deal with Iran would likely not be popular with US voters and so is hard to envisage before the November mid-terms," said National Australia Bank's Ray Attrill.
Does it mean we gona see a very big decrease in the fuel price?!
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