Just out a look at Oil pricesI mentioned before that Russia is selling all the Oil that they can to other countries well this is now confirmed that the amount of Oil being sold is more than first suspected and that this increase will ease World demand. Just another nail in the coffin of Oil prices heading lower! Oil is at $102 but we really need to wait till the morning. JMHO (always DD)
This news was just released.
WTI crude futures fell below $105 per barrel on Thursday, extending a sharp decline from the previous session, amid mounting concerns that aggressive US interest rate hikes could trigger a recession and hurt fuel demand. Federal Reserve Chair Jerome Powell said on Wednesday that the central bank is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control, even at the risk of an economic slowdown. Meanwhile, US President Joe Biden called on Congress to temporarily suspend the federal gasoline tax to give Americans some respite from record pump prices. Elsewhere, Cecilia Rose, chair of the Council of Economic Advisers, said Wednesday that China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets.