Recession Fears Loom Large Over Bullish Oil Market
The price of gasoline in the U.S. hit an all-time high on Tuesday as the national average spiked $0.17/gallon from last week to $4.37/gallon, topping the previous all-time high set March 8. The European Union's discussion of pulling back from buying Russian oil has sent additional shock waves through an already strained oil market, with the imbalance between supply and demand likely to get worse as more countries follow the U.S. in banning Russian oil. In sharp contrast, the crude markets have been incredibly volatile and full of wild gyrations.
Original Article Source Credits: Oil Price , https://oilprice.com/
Article Written By: Alex Kimani
Original Article Posted on: May 11, 2022
Link to Original Article: https://oilprice.com/Energy/Crude-Oil/Recession-Fears-Loom-Large-Over-Bullish-Oil-Market.html