Recession concerns in the Western world continue to weigh on oil market sentiment. – EPA pic, July 4, 2023.
OIL prices reversed into the red yesterday on global growth concerns, despite fresh output cuts by key producers Saudi Arabia and Russia aimed at propping up prices. Although Asian stock markets advanced as easing inflation data fuelled hopes that central banks could be nearing the end of their interest rate hiking cycle, European stocks ended mostly lower.
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Source: Financial Digest (financialdigest.net)
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