Oil Prices Slide Amid Weak PMI Readings and Supply Concerns
Oil prices faced a slight decline in Asian trade on Thursday, influenced by a series of weak Purchasing Managers’ Index (PMI) readings that raised concerns about sluggish economic growth. The market also grappled with increased U.S. oil production and exports. Indicating that supply might not be as constrained as initially anticipated. The Energy Information Administration […]
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 […]