Showing posts from April 16, 2023

Oil and gas prices fall again as the concerns over global economy grow

  The prices of crude oil slipped into yet another statistically chaotic week as the latter draws to a close, having been through some wild fluctuations that defied reason. As of 10:30 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $77.36, $81.06 and $2.23 respectively. Weekly Oil Price - Neither the fall in the US crude oil inventories, reported by both API, American Petroleum Institute nor the EIA, US Energy Information Administration, nor the encouraging GDP boost in China appears to have generated the desired effect -  pushing up the price of crude oil.  On the contrary, it started falling on Thursday, heading towards where it had been during the past few weeks - virtually wiping out all  the gains during the past few days.  The price of LNG, meanwhile, rose unexpectedly, something that has been attributed to the new cold front sweeping across the northern hemisphere. The unseasonal weather phenomenon is not here to stay in the region for

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