What’s Driving Oil’s Recent Decline?

Brent Oil

Oil

Inflation

Over the course of recent trading sessions, the prices of Oil (CL) have been impacted by a confluence of developments on the international petroleum markets. The entire impact of recession fears and market volatility is yet unknown at this time.

Price chart for oil

Change in Trend?

The early months of this year were largely marked by intense worry on the part of decision-makers, dealers, and common people regarding sharp increases in the prices of important commodities like oil and natural gas (NG). the COVID-19 pandemic was still causing the global economy to recover, and the armed war between the Russian Federation and Ukraine had raised concerns about a potential supply cut off, Oil and the international benchmark Brent Oil (EB) seemed to be on an inexorable rise skyward.

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