Oil falls as investors eye recession risks

Quick Summary

TOKYO/SINGAPORE: Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact of interest rate hikes in major economies on fuel demand.

China's crude oil imports from Russia in May were up 55% from a year earlier and at a record level.

West Texas Intermediate (WTI) crude futures fell $1.4, or 1.3%, to $104.78 a barrel by 0643 GMT.

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Article Details

Author / Journalist: The Star Online

Category: Business

Topics: WTI Gasoline tax Federal Reserve /Business/Business News Energy Brent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 15:52:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 3 minutes read

Article Length: 478 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 5589

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About The Star Business

Main Topics: Business

Official Website: thestar.com.my

Update Frequency: 14 posts per day

Year Established: 1971

Headquarters: Malaysia

Last Updated: 55m ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Languages Covered: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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