প্রকাশ: 19/07/2022
Oil prices fell on
Tuesday, taking a breather after surging more than $5 a barrel in the previous
session as a plunging dollar supported buying interest and on expectations the
US Federal Reserve's interest rate hike may be less than thought.
Brent crude futures for September settlement fell 69 cents
to $105.58 a barrel by 0036 GMT. The contract rose 5.1% on Monday, the biggest
percentage gain since April 12.
WTI crude futures for August delivery fell 65 cents to
$101.95 a barrel. The contract climbed 5.1% on Monday and was the largest
percentage gain since May 11.
The August WTI contract expires on Wednesday and the more
actively traded September future was at $98.79 a barrel, down 63 cents.
Both benchmarks recorded weekly declines of more than 5%
last week.
Oil prices have been whipsawed between concerns about supply
as Western sanctions on Russian crude and fuel supplies have disrupted trade
flows to refiners and end-users and rising worries that central bank efforts to
tame surging inflation may trigger a recession that would cut future fuel
demand.
Two US Federal Reserve officials indicated last week that
the central bank would likely only raise interest rates by 75 basis points at
its July 26-27 meeting.
A lower hike may mean less of an economic crunch that would
reduce fuel demand.
- Reuters
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ক্রিয়েটিভ মিডিয়া লিমিটেডের অঙ্গ প্রতিষ্ঠান
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