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Davor Sdn Bhd
Davor Sdn Bhd 1037946-P
Featured Merchant
Business Nature:

Supplier

Related Classifieds:

Lubricants

Oil on track for sharpest weekly decline since March - Davor Sdn Bhd

Oil on track for sharpest weekly decline since March

06-Oct-2023

Oil prices faced their sharpest weekly decline since March due to concerns that persistent high interest rates may lead to a global economic slowdown, dampening fuel demand. Brent and WTI crude, which hit 2023 highs last week, dropped 11.8% and 8.8% this week, respectively. Brent futures rose 0.4% to .43, and WTI crude increased 0.5% to .73 on Friday, rebounding from a 2% decline on Thursday. A bond market selloff and worries about the U.S. budget deficit have fueled the sell-off. OPEC+ maintained its output policy, while U.S. data revealed a drop in gasoline demand and slowed services sector growth.

Original Article: https://www.investing.com/news/commodities-news/oil-on-track-for-sharpest-weekly-decline-since-march-3191844
Main Office

Davor Sdn Bhd (1037946-P)
32-G, Jalan Puteri 5/16, Bandar Puteri Puchong, 47100 Puchong, Selangor, Malaysia.

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Website: https://www.oiltech.com.my
Website: https://www.machinerylubricants.com.my
Website: https://oiltech.newpages.com.my/
Website: https://oiltech.n.my/

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