Displaying items by tag: barrel

According to Bloomberg Linea magazine, explains that oil is headed for another week of losses as the world's central banks raise their interest rates to quell inflation. If this is indeed the case, it would be the longest weekly losing streak of the year.

Oil prices fall 7% to trade at US$100 a barrel as investors pinned their hopes on diplomatic efforts by Ukraine and Russia to end their conflict, while an increase in COVID-19 cases in China made markets nervous.