In response to growing expectations that the U.S. Federal Reserve will continue raising interest rates, drops on the Oil markets and Asian Indices were observed Tuesday morning.
Oil prices dropped on Monday ahead of OPEC+ and Federal Reserve summits as well as uncertainty regarding Chinese demand.
Winter storms caused supply concerns in the U.S., while China lifted COVID-19 restrictions, boosting Oil’s prospects.
As OPEC+ maintains production cuts, the G7 price cap comes into effect, Oil prices rise, and China loosens COVID restrictions.
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