iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

WTI Crude Oil Extends Losses Below $104 Levels

23 Jun 2022 , 03:01 PM

Crude oil extends losses near six-week lows as concerns over recession its impact on fuel demand weighed down investor sentiment. Central banks worldwide tightening policy rates to curb soaring inflation is seen dragging down growth prospects. U.S. Federal Reserve chief Jerome Powell said on Wednesday the central bank was not trying to engineer a recession to stop inflation but was fully committed to bringing prices under control even if doing so risked an economic downturn. Meanwhile, recovery in dollar to 104 levels is also weighing on oil prices, as a strong greenback makes oil purchases more expensive for holders of other currencies. WTI crude oil futures are currently lower by more than 2% at 103.98. Meanwhile, the American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, the biggest rise since mid-February, further adding pressure on oil prices. Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

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)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.