Last week’s welcome drop in fuel price proved to be short lived
This week has been a real roller coaster for the oil market. Oil began the week at $115 per barrel for brent crude, spurred on by the continuing conflict between Russia and Ukraine.
Oil prices have seen a decline as fears of a U.S. recession and uncertainty over the Chinese economic recovery weighed on the outlook. Learn more with Fuelmate.
Oil prices fell sharply this week as soft economic readings and fears of rising interest rates pushed up uncertainty over a recovery in demand this year.
Brent crude is down 24% from June, now trading at $95 a barrel. This figure has dropped more than 30% since March. So, why are oil prices falling? Learn more.
It’s been a mixed week for oil prices as the worsening situation in China is offset by the embargo on Russian oil and OPEC’s December 4th meeting. Learn more here.
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