Crude oil extended losses on Monday, amid demand concerns coupled with sharply higher US inflation data that pushed the greenback higher. US headline inflation rate for May rose to 8.6%, the highest since 1981, raising pressure on the Federal Reserve to stick to aggressive rate hikes while raising concern over a possible recession. Meanwhile, in China, Shanghai has imposed fresh Covid-related restrictions in several parts due to a surge in new cases have once again raised concerns about outlook for oil demand. Chinese officials warned on Sunday of a ferocious COVID spread in the capital and announced plans to conduct mass testing in Beijing until Wednesday. WTI crude was at $119.03 a barrel, down $1.70, or 1.41%. Powered by Commodity Insights
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.