Oil prices are facing a 'battle royale' between Saudi Arabia and the Federal Reserve, Bank of America says
Saudi Arabia and the Federal Reserve are locked in a"battle royale" over oil, and crude prices are likely to remain under pressure until the Fed pulls back on its tight monetary policy, according to Bank of America.
Those price drops over the past year are largely due to the Fed's aggressive monetary tightening policy, which has raised expectations of weaker economic growth, overriding the impact of"At their core, markets are witnessing a battle royale between Saudi Arabia and the US Federal Reserve, pitting Prince Abdulaziz bin Salman against Chairman Jay Powell," Blanch said in the note, later adding,"In this battle royale, oil has the losing hand until money starts easing again.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
U.S. oil price slides back below $70 a barrel ahead of this week's Fed decisionU.S. oil price slides back below $70 a barrel ahead of this week’s Fed decision
Baca lebih lajut »
The First Café Elle Opens in Saudi ArabiaFor years as an editor Whitney Robinson has been at the intersection of fashion, travel, and architecture—he is bringing those worlds to life with a new hospitality concept from Elle Magazine, Café Elle which just opened its first location in Saudi Arabia.
Baca lebih lajut »
Saudi Arabia announces Sudan aid conference as fighting ragesSaudi Arabia announces international aid conference for conflict-ravaged Sudan, where UN says more than half the population urgently needs assistance
Baca lebih lajut »
Oil prices fall, U.S. Fed rate decision in focusOil prices declined on Monday ahead of a U.S. Federal Reserve meeting as investors tried to gauge the central bank's appetite for further rate hikes, while concerns about China's fuel demand growth and rising Russian crude supply weighed on the market.
Baca lebih lajut »