Crude oil tanked more than 5% yesterday as traders eyed weak global growth estimates. The IMF slashed global growth forecast for 2022 and 2023 by 0.8 percentage point and 0.2 point, respectively, to 3.6%. The downgrade largely reflects the wars direct impacts on Russia and Ukraine and global spillovers, said the report. WTI Crude lost out on this and also tracked soaring Chinese Covid-19 cases. The commodity currently trades at $103 per barrel, up around 1% on the day and could see a mixed action ahead of the EIA inventory data release.
Powered by Commodity Insights
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2024, IIFL Capital Services Ltd. All Rights Reserved
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
