scorecardresearchOil Advances as Investors Weigh Outlook for Demand, US Economy

Oil Advances as Investors Weigh Outlook for Demand, US Economy

Updated: 21 Jun 2022, 08:23 AM IST
TL;DR.
Oil ticked higher as traders weighed the odds of a recession in the US amid Federal Reserve tightening, with President Joe Biden pushing back against the notion that the world’s largest economy faces a contraction.
FILE PHOTO: Yang Mei Hu oil products tanker owned by COSCO Shipping gets moored at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel

FILE PHOTO: Yang Mei Hu oil products tanker owned by COSCO Shipping gets moored at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel