(Finance) – Prices are falling sharply for the price of crude oil in a climate in which fears of a global recession and a consequent drop in oil demand remain.
And, precisely in the event of a recession, the prices of black gold could fall further to reach 65 dollars a barrel. The analysts of Citigroup contrary to what has recently been estimated by the colleagues of JP Morgan who see prices rising.
The indication comes on the eve of the release of weekly stocks in the US. Meanwhile, the Brent drops over percentage points to $ 106.94 while the WTI it loses 5.76% to 103.15 dollars.
On the markets, fears of a slowdown in growth overshadow optimism about the possible reduction in the coming days of some US tariffs on Chinese imports to counter the high cost of living.
Inflation growth still seems far from peak and leaves little room for maneuver for Federal Reserve to ease its cycle of interest rate hikes. In this regard, the attention of the experts is now turned to the dissemination of minutes of the last Fed meetingscheduled for tomorrow, during which the cost of borrowing has been increased by 75 basis points: the market expects another squeeze of the same size this month and sees rates at 3.25-3.5% by the end of the year.