Oil dips below $80 as Powell warns recession could be on the way

Oil prices fell 5% early Friday, with the US benchmark plunging to its lowest level since January, amid heightened concerns about slowing economic growth and looming recessions. At 10:06 a.m. ET on Friday, WTI Crude had dipped below $80 a barrel and was trading 5.58% to $78.83 a barrel. Brent Crude, the international benchmark, stood … Read more

Markets plunge into the red as interest rate hikes heighten economic concerns

m Markets in London and across Europe fell Thursday as a series of rate hikes further exacerbated the economic gloom facing traders. The Bank of England was the last central bank to launch a major rate hike on Thursday, when it raised interest rates to 2.25%, representing a nearly 14-year high. The rise was lower … Read more

Oil falls as recession fears prevail in the market

After two days of gains, oil prices fell early Friday, buoyed by lingering concerns about recession in major economies and a strong dollar making crude more expensive for holders of other currencies. Friday at 9:00 AM ET, WTI Crude traded below $90 a barrel, at $88.93, down 1.73%. The international benchmark, Brent Crude, was below … Read more