Oil prices have returned to a downward trajectory today as worries about the outlook for the global economy continue to shake markets.
Futures on the WTI have been seen to fluctuate widely this week, dropping below $ 99 a barrel and climbing up to $ 110 a barrel.
Oil jumped about 6% on Wednesday after falling more than 9% in the previous two sessions as investors struggled to assess how massive lockdowns in China and the rapid tightening of US monetary policy will affect growth and progress. demand in the two largest economies in the world.
The volatility is compounded by the uncertainty surrounding the European Commission’s proposal to impose an embargo on Russian oil, with Hungary remaining opposed, threatening to veto the decision.
Against this background, the June delivery WTI lost 2.4% to $ 103.17 a barrel, while the July Brent fell 2.3% to $ 105.09 a barrel on ICE Futures.
Source: Capital
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