West Texas Intermediate crude futures dropped below $100 a barrel for the first time since May 11 as concerns grow that a global economic slowdown will ultimately hobble demand. Traders are worried about the impact of sharply higher US borrowing costs, as the Federal Reserve embarks on a series of interest-rate hikes intended to cool inflation. Adding to bearish sentiment, Citigroup Inc. said that oil prices could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits.
During his address at the passing out parade of the Pakistan Air Force at the…
In light of the severe weather conditions in the United Arab Emirates (UAE), Pakistan…
Global investors are eyeing European and emerging market assets to protect themselves from further turbulence…
U.S. central bank officials will conclude their latest two-day policy meeting on Wednesday with a…
Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after…
The Bank of Japan's decision to keep policy unchanged last week gave yen bears plenty…
Leave a Comment