Volatility in oil prices amid concerns of economic recession in United StatesDeltafx Admin 24 January 2023
Investors focused on the economic outlook in the United States and fluctuations in China today, causing oil prices to change.
Prices of crude oil rose in Asian markets on investor concerns about growing Chinese demand, but concerns about slowing U.S. economic growth limited gains.
After rising as high as $88.36 in early trading, the price of Brent crude oil eventually fell 7 cents to $88.12 per barrel. U.S. West Texas Intermediate (WTI) crude oil closed at $81.67, after rising 5 cents earlier to $81.88.