Price of Oil Fluctuates with Geopolitical Trends

After oil prices skyrocketed to three-digits adding up to about $140 per barrel, U.S. oil dropped more than 8%, breaking below $100 per barrel. Senior energy trader at CIBC Private Wealth U.S., Rebecca Babin, noted the decline could be attributed to a mix of geopolitical and demand factors in the economy. While Russia continues with its invasion of Ukraine, China’s economy has come to a screeching halt following another round of quarantine lockdowns due to Covid-19. “We have a demand scare for the first time in a while,” stated John Kilduff, partner at Again Capital, an investment advisory firm. “The Covid lockdown in China has spooked the market,” Kilduff added. An article published by CNBC takes a closer look at the recent trends within the oil market.

To learn more, Click Here


Share on facebook
Share on twitter
Share on linkedin
Share on email

Related Posts

Russian Sanctions Cause Market Uncertainty

Worldwide industries are facing unprecedented times as uncertainty rises around the longevity of Russian sanctions. Businesses are drawing up long, medium, and short-term plans for

Unprecedented Economic Trends for March

March 2022’s economic trends are unlike anything America has witnessed before. The number of unemployed individuals rose to 227,000, while employers are desperate to fill