Asian shares bounce back amid plunging oil prices
Oil’s 5% nosedive offers comfort to investors, but Friday’s US payrolls data could change the game
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Oil’s 5% nosedive offers comfort to investors, but Friday’s US payrolls data could change the game
OIL edged lower on Wednesday ahead of a panel meeting of OPEC+ ministers, as the market weighed expectations of supply tightness against fears that high interest rates could reduce fuel demand.
International Business News: US oil jumped nearly $1 a barrel on Thursday to its highest in more than a year as a steep drop in crude stocks in the United States added to worries .
The recent output cuts by Opec+ countries and the decline in US stocks will likely keep oil prices elevated.
Crude oil prices fell on Thursday after rising on Tuesday and Wednesday, with Brent retreating shortly before reaching $98 per barrel.