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KTFA
Samson » September 23rd, 2022
Oil prices fall amid recession fears
23rd September, 2022
Oil prices fell on Friday in light of recession fears and the rise of the dollar, although losses were limited due to supply concerns after a new general mobilization campaign in Russia and a clear faltering in talks to revive the Iranian nuclear agreement.
By 0325 GMT, Brent crude futures fell 41 cents, or 0.5 percent, to $90.05 a barrel, and West Texas Intermediate crude futures fell 30 cents, or 0.4 percent, to $83.19 a barrel. Brent crude oil prices fell 1.5 percent, while West Texas Intermediate crude prices fell 2.3 percent this week.
Central banks around the world raised interest rates after the US Federal Reserve raised interest rates by 75 basis points for the third time on Wednesday, raising the risks of an economic slowdown.
A senior US State Department official said that efforts to revive Iran’s nuclear agreement concluded in 2015 faltered due to Iran’s insistence on closing the International Atomic Energy Agency’s investigations related to the discovery of uranium traces at undeclared sites, which reduced expectations of the return of Iranian oil to the market. LINK
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Source: Dinar Recaps
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