concluded Oil prices Its trading at the end of a volatile 2022 is slightly higher as investors eagerly await a possible recovery in Chinese demand in 2023.
West Texas Intermediate crude futures rallied last minute during the final session of the year to trade above $80, posting an annualized gain of 4%.
West Texas Intermediate crude oil futures prices have fallen much lower, after surging above $100 in early 2022. Russian invasion of Ukraine This could cause global supply disruptions and drive up prices.
Crude has been traded Brent The global benchmark is in the range of $64 a barrel, the highest price since 2008 and, at times, the largest weekly fluctuations ever.
This volatility has been a major drawback for many traders, leading to curbing liquidity and heightened volatility.
At their peak, oil futures were above $139 a barrel, but gains faded largely on concerns that central bank efforts to curb inflation would weigh on growth and uncertainty over the outlook for the demand for crude oil in the coming months. China.
Oil climbs as China eases travel rules and America’s frigid weather
