Concerns about the Federal Reserve’s inflation fighting posture, OPEC’s next move and...
OPEC, European energy shortages, China’s economic challenges, and the Federal Reserve’s inflation-fighting posture could all be factors in oil price movements this week.Concerns about the Federal Reserve’s inflation fighting posture, OPEC’s next move and possbility of hurricane forming in Atlantic and heading into the Gulf of Mexico forecast another week of prices swingsin global oil markets this week.
West Texas Intermediate, the U.S. benchmark for the price of oil, gained a 2.5 percent on the week to close trading Friday at $93.06 per barrel.Oil and gas producers on track to generate $1.4 trillion in free cash flow this year, report says “Even the perception of a lack of progress can cause a rally in crude oil prices, for instance,” Mower said.
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