Oil Market Remains Volatile

After yet another volatile stock market session, U.S. oil has again dipped in price. This comes after U.S. oil inventories rose, and after U.S. inflation figures supported the argument for another Federal Reserve interest rate increase. Stock holders have been selling oil shares in worries that aggressive rate hikes will slow the economic growth and hit oil demand. Even so, the physical market remains tight. “Demand issues are catching up to high prices. The U.S. dollar is causing downside pressure on all commodities. There’s been a shift in mentality over the last couple of weeks,” said Tony Headrick, energy markets analyst at CHS Hedging. An article published by Reuters looks closely into the oil market.

To read the article, Click Here.



Related Posts

Ocean Freight Rates Take a Dive

Global import costs plunge following years of record peaks. In a new wave of economic developments, the American Journal of Transportation reports a noteworthy reduction