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Oil Set to End Turbulent 2022 With Second Annual Gain

Started by Epoch-Times-Bot, Dec 30, 2022, 08:00 AM

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Epoch-Times-Bot

Dec 30, 2022, 08:00 AM
Oil Set to End Turbulent 2022 With Second Annual Gain

LONDON—Oil rose on Friday and was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world’s top crude importer, China.
Crude surged in March with global benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s invasion of Ukraine sparked supply concerns. Prices cooled rapidly in 2022’s second half on worries about global recession.
“This has been an extraordinary year for commodity markets, with supply risks leading to increased volatility and elevated prices,” said ING analyst Ewa Manthey.
“Next year is set to be another year of uncertainty, with plenty of volatility.”...

Source: Oil Set to End Turbulent 2022 With Second Annual Gain

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Aug 28, 2024, 07:39 AM
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