ShreeMetalPrices: Oil Prices Stabilized; Prospects China’s Demand Outweighs Economic Fears.
On Friday, oil prices rose as expectations for increased Chinese demand as well as a declining US currency overshadowed worries about a global economic slowdown and the effect of rising interest rates on gasoline use. To combat inflation, the United States Federal Reserve is attempting to slow its economy and it will continue to raise […]
Oil prices drop Due to Recession Concerns and China COVID issues.
On Tuesday, An increase in oil price declines of more than 1%, adding to losses of almost 2% from the previous day as concerns about global demand were increased by recession fears and a spike in COVID-19 cases in China. On Monday, Kristalina Georgieva, the managing director of the International Monetary Fund, and World Bank […]