Oil prices are back around the levels they were at before Russia invaded Ukraine, highlighting that a global recession and demand destruction are now the central focus of traders.
It is hard to escape from the fact that nearly every single piece of news and analysis appears to be indicating that a recession is looming. Be it the Bank of England’s warning of a five-quarter-long recession drag or the lack of action from OPEC+ on oil production, the bad omens just keep on coming. Inevitably, this has impacted oil prices, too, almost falling back to where they were before the onset of Russia’s invasion, with ICE Brent trending around $96 per barrel.
mid-week amidst fears that pipelines connecting the shallow-water platforms to the shore might be leaking, probably due to equipment corrosion. governments globally to tax these excessive profits and redistribute them, saying oil companies have been making immoral profits on the backs of the poorest people.
to invest some $22 billion in ultra-high-voltage power lines this year still, boosting the prospects of copper and aluminum for H2. A Russian government decree issued this week saw Gazprom
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