Oil Dips in Volatile Trade Amid Demand Concerns, Supply Disruptions
Posted: Tue Apr 19, 2022 1:42 pm
LONDON—Oil prices slipped in volatile trading on Tuesday as investors weighed demand concerns against tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a COVID-19 shutdown. Brent crude was down $1.41, or 1.2 percent, to $111.75 a barrel at 1028 GMT, after rising more than $1 to $114.21 earlier in the session. U.S. West Texas Intermediate crude fell $1.64, or 1.5 percent, to $106.57 a barrel, after rising to $108.92 earlier. Prices came under pressure with the dollar trading at a fresh two-year high. A firmer greenback makes commodities priced in dollars more expensive for holders of other currencies, which can dampen demand. ...
Source: https://www.theepochtimes.com/oil-dips- ... 13122.html
Source: https://www.theepochtimes.com/oil-dips- ... 13122.html