Oil prices rebound after opening the year with steep losses - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Wednesday, 4 January 2023

Oil prices rebound after opening the year with steep losses

The bounceback in oil prices follows two consecutive days of steep declines. This is because investors are worried about a possible global recession and the short-term economic signs in the world's two biggest oil consumers, the United States and China. The rebound in oil prices is a result of two things- first, investors are taking advantage of the decline to buy futures, and second, there are worries about the economic disruptions as COVID-19 works its way through China.

from Commodities-Markets-Economic Times
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