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Oil ended the week at multi-month lows on recession worries after the Bank of England warned of a drawn-out downturn. On Friday Brent and WTI edged up slightly as tight supply offset expected fuel demand declines.
Recession risk is the main downward force on crude, while supply tightness limits losses and keeps energy costs elevated for feed producers.
cnbc.comReutersAug 5, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The weekly wrap confirms multi-month lows driven by recession and demand worries, though the slight Friday uptick on tight supply means it adds little new price pressure beyond the earlier drops.
