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Oil held steady as traders weighed recession fear against China’s loosening monetary policiesOil held steady as traders weighed recession fear against China’s loosening monetary policies |
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International benchmarks for crude oil ended the trading session on Monday, 17 October 2022 with little changes as traders took a step back to assess the impact of China’s continuation of loose monetary policy after the PBOC rollover key interest rates from the previous month. Meanwhile, fears of a global recession linger but investors are searching for bullish factors to support the market.
Brent inched just 1 cent lower to close at $91.62/barrel.
WTI dropped 15 cents to close at $85.46/barrel.
