Will Adani saga affect the price of crude oil - in the long run?
The prices of crude oil are heading for yet another weekly loss, as the conditions that first appeared to form a collective catalyst, are no longer viewed as strong as they were, when the sentiments started building up in the battered energy markets. As of 15:30 GMT, the prices of WTI, Brent and LNG were at $77.79, $84.01 and $2.38 respectively. The Chinese factor, for instance, has not gathered the momentum since the rigid lockdowns that had been in place were relaxed before the Spring Festival; in short, its perceived impact has been eclipsed by the persistent worries about the Chinese economy in particular and global economy in general. The forecast of slow growth of the UK economy by the IMF is a case in point; adding insult to the injury, the Bank of England raised its interest rates - once again on Thursday; the ECB, European Central Bank, did follow suit, on Thursday; the Federal Reserve did the same - but by an amount smaller than first feared; the World Bank, meanwhile, ha
