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- Oil prices plummeted to ten-month lows Monday morning after stark warnings from Chinese officials shed light on the nation’s increasingly worrisome Covid outbreak—highlighting the uncertainty shrouding the global economy but also fueling hopes that gas prices may fall below $3 a gallon for the first time in 18 months.
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Why did oil hit a 2022 low?
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Dec 7, 2022 · The price of oil fell to its lowest level this year on Wednesday, forfeiting all of the gains since Russia's invasion of Ukraine exacerbated the worst global energy supply crisis in...
Jan 4, 2023 · From June 8 through the remainder of 2022, crude oil prices generally decreased as concerns about a possible economic recession reduced demand. High petroleum prices were one cause of persistent broad-based inflation in 2022 that affected consumer budgets and gasoline demand.
Dec 8, 2022 · Both Brent and U.S. crude hit 2022 lows on Wednesday, unwinding all the gains made after Russia's invasion of Ukraine exacerbated the worst global energy supply crisis in decades and sent oil...
Nov 28, 2022 · Key Points. Oil prices were briefly negative for the year Monday, a surprising turnaround from projections that crude could be in short supply and selling at much higher prices. For consumers,...
Sep 23, 2022 · Recession fears are slamming the oil market, with crude tumbling on Friday below $80 a barrel for the first time since January.
Sep 23, 2022 · Oil prices continued to tank on Friday, posting a fourth straight week of declines and falling to their lowest level since January amid rising fears that a looming economic downturn will hurt ...
Dec 9, 2022 · Oil prices have not soared but slipped, adding fuel to an argument made by Saudi energy minister Prince Abdulaziz bin Salman that in the face of a weakening global economy, pre-emptive cuts were...
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