The US dollar hovering near its recent peak post an aggressive Federal rate hike coupled with persistent concerns of global recession is weighing on the outlook for energy demand. Rate hikes by central banks around the world this week are stoking concerns about a global economic slowdown. The US Federal Reserve led the charge with its third straight 75 basis point rate hike, along with increases by the Bank of England and the Swiss National Bank, among others. WTI crude oil futures are currently lower by 0.36% at $83.17 per barrel on Friday and are set for its fourth straight weekly loss. Powered by Commodity Insights
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