Mar 30, 2024 midnight

Oil settled mix as traders assess the risk of recession

Oil settled mix as traders assess the risk of recession

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International benchmarks for crude oil concluded the session on Tuesday, 24 May 2022 mixed as traders hold the position to assess the growing risk of an economic recession. Meanwhile, supply concerns remain in place, especially after the U.S. Energy Secretary said the country ‘had not ruled out using export restrictions to calm the soaring local fuel prices.’

Brent gained just 14 cents to close at $113.56/barrel.

WTI fell 52 cents to settle at $109.77/barrel.