Oil Continues Its Rollercoaster Ride






Oil appears to be on a downward slope as the economy continues to deteriorate amid growing inflation, associated worries about a recession, additional COVID-19 limitations in China, and the conflict in Ukraine that seems to go on forever. It appears that for the previous few months, this priceless energy resource has been waning.

Low oil prices

Rate Increases and Concerns about Demand Halt Oil’s Growth

Since the advent of Covid in 2020, Oil (CL) has experienced monthly declines three times in a row. This essential good has suffered a significant 18% value decline as of the time of writing, closing Wednesday’s trading day below $90 a barrel.

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