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Oil settles lower on bets Fed rate hikes may crimp crude demand

Por: MarketWatch Business November 03, 2022

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Price action Market drivers Concerns that the Fed is “much more likely to overshoot on rates rather than doing too little” have grown, raising the risk of the economy “tipping” into recession, said Robbie Fraser, manager, global research and analytics at Schneider Electric. That’s a particularly “bearish prospect for crude prices due to the potential demand hit, and is further reinforced by the stronger dollar that weighs on... + full article



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