New York, Friday 14 October 2022 ((rezonodwes.com)) – Oil ended the week lower on fears of a global slowdown that raises expectations of a decline in demand.
The North Sea Brent barrel for delivery in December fell 3.10% to $ 91.63. Over the course of the week it lost 6.20%.
A barrel of US West Texas Intermediate (WTI) for November delivery plunged 3.92% to $ 85.61. It fell 7.34% during the week.
” The market continues to be haunted by fears of a recession that could impact the demand for black gold“Said Andy Lipow of Lipow Oil Associates.
” High prices for energy, natural gas and electricity around the world are starting to reduce consumer disposable income and as a result the global economy will slow“, He explained.
source: price per barrel
