News Top Stories

Oil drops 2% to 12-week low on recession fears

Oil prices slid about two per cent to a 12- week low in volatile trade yesterday, extending Tuesday’s heavy losses as investors grew more worried energy demand would take a hit in a potential global recession. Brent futures for September delivery fell $2.20, or 2.1 per cent, to $100.57 a barrel by 1:27 p.m. EDT (1727 GMT). U.S. West Texas Intermediate (WTI) crude fell $1.54, or 1.6 per cent, to $97.96. Both benchmarks were in technically oversold territory for a second straight day, on track for their lowest closes since April 11. Trade was volatile, with both benchmarks retreating sharply from early rises of over $2 a barrel on supply concerns.

Crude futures has been extremely volatile for months. On Tuesday, Brent slid nine per cent and WTI eight per cent. Brent’s $10.73 drop was the third biggest for the contract since it started trading in 1988. The biggest drop was $16.84 in March. U.S. diesel futures also fell about five per cent. Analysts at UBS, a bank, cited “recession fears, the unwinding of the oil trade as inflation hedge, a stronger US dollar, hedge funds reacting to negative oil price momentum, producer hedging, and new mobility restriction concerns in China.”

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica