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International oil prices plunged again: both fell below the $100 mark, hitting a 3-month low

 Last Update: 2022-10-04
 Source: Internet
 Author: User

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Sinochem News Network News reported that worries about a global economic recession and the dollar rose, international oil prices fell sharply again on July 12, and the two major global crude oil pricing benchmarks both fell below $100

Investors are worried about the prospect of a recession

The latest economic forecast from the Center for European Economic Research (ZEW) showed that the economic confidence index in the euro zone in July (-51.

The euro struggled at 1:1 parity support against the dollar on Tuesday, the first time it has traded at that level for the first time since December 2002

At the same time, a stronger dollar has weighed on oil prices, as it raises the cost of purchasing dollar-denominated commodities

Despite the bearish mood in commodity markets, several energy agencies agreed that supply tensions are set to intensify

The United States is scheduled to visit Israel, the Palestinian West Bank and Saudi Arabia from July 13 to 16, in what will be his first visit to the Middle East in a year and a half in office

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