Oil fell more than 3% on worries over China demand outlook, FED rate hikes
Oil fell more than 3% on worries over China demand outlook, FED rate hikes
International benchmarks for crude oil plunged more than 3% on Thursday, 17 November 2022 on worries over more aggressive interest rate hikes from the FED while the rising number of COVID-19 infection cases in China threatens to squeeze demand.
Brent fell $3.08 or 3.3% to settle at $89.78/barrel.
WTI slid $3.95 or 4.6% to close at $81.64/barrel.