Oil market shrugged off economic concerns to settle higher
Oil market shrugged off economic concerns to settle higher
International benchmarks for crude oil defied the concerns over the aggressive stance from the Federal Reserve in lifting interest rates and China double-down on ‘Zero Tolerance’ COVID-19 policies, to close higher on Thursday, 5 May 2022.
Brent added 76 cents to close at $110.90/barrel.
WTI gained 45 cents to settle at $108.26/barrel.