Oil futures extend losses, with the U.S. benchmark touching its lowest intraday level since December 2021
Oil futures extended a slump Wednesday, with the U.S. benchmark dipping below the $70 level and touching its lowest intraday level since December 2021 as the fallout from a banking crisis stoked recession fears.
Price actionMarket drivers Trouble... Oil futures extended a slump Wednesday, with the U.S. benchmark dipping below the $70 level and touching its lowest intraday level since December 2021 as the fallout from a banking crisis stoked recession fears. Price action Market drivers Trouble in the banking sector has amplified fears that aggressive monetary tightening by the Federal Reserve and other central banks has set the stage for a sharp economic downturn.
“Oil is getting destroyed, with big macro looking straight into the U.S. recession vortex and energy traders drawing straight-line parallels to prior bank sector-driven recessions, especially the 2008 financial crisis, which has similar overtones to the current financial tumult and when oil tanked,” said Stephen Innes, managing director of SPI Asset Management, in a note.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Who will step in to fill the $70 billion gap left by Silicon Valley BankWhen Silicon Valley Bank imploded it took a $70 billion loan portfolio with it. Competitors are already stepping in to fill the gap.
Baca lebih lajut »
This New Coffee Table Book Showcases the World’s Best Brutalist ArchitectureFor fans of architecture and design, this new coffee-table book is a must-have. Featuring the world's best Brutalist buildings, the tome is a celebration of the movement's powerful aesthetic.
Baca lebih lajut »
The Beauty Products This Celebrity Nail Artist Uses to the Last DropAutoRefill: Nail artist Aja Walton is known for her ability to conceptualize looks from things that “are not traditionally considered nail-art inspo,” she says. Her busy schedule requires serious self care; she shared her go-to products with the Cut
Baca lebih lajut »
Indictment of longtime suspect for 2021 murder gives Schertz man’s family hope for justiceAlthough police wrote in April 2021 court documents they were investigating Ethan Beckman for murder, it has taken until this month for him to be formally charged with the crime.
Baca lebih lajut »
2021-2023 Ram 1500 recalled over a rearview camera issue (again) - AutoblogRam recalls the 2021-2023 1500 pickup again over an issue with the trailer steering reverse control module.
Baca lebih lajut »
US Marshals offer reward leading to arrest of Alliance fugitive wanted by ATF since 2021Officials said he is one of the last remaining fugitives of 12 people indicted by a federal grand jury.
Baca lebih lajut »