By your side, in London, North Sea Brent barrel prices for June delivery eased another bit to end at $107.25.
Traders headed lower after the revision of the world economic growth forecast by the International Monetary Fund (IMF) for 2022which went from 4.4% to 3.6%.
The IMF attributes the change to fallout from the war in Ukraine and sanctions inflicted on Russia for its invasion of the neighboring country, coming at a time of monetary tightening by several central banks.
This warning adds to the temporary weakness of the Chinese economy, hit by several strict confinements to combat Covid-19 when it was already showing signs of exhaustion.
For Craig Erlam, an analyst at Oanda, the market took a breather on Wednesday after four consecutive sessions of increases, which took the price of a barrel to levels not seen since the end of March.
According to Stephen Schork of the Schork Report, in the medium term the US economy is “heading toward a recession.” “The seeds of recession are planted,” he emphasized, alluding to inflation hitting 40-year highs.
Source: Ambito
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