scorecardresearchOil Fluctuates as Surging Inflation Escalates Slowdown Concerns

Oil Fluctuates as Surging Inflation Escalates Slowdown Concerns

Updated: 14 Jul 2022, 07:54 AM IST
TL;DR.
Oil fluctuated near $96 a barrel as sizzling US inflation data raised the prospect of more aggressive interest rate hikes, while high gasoline prices are starting to taking their toll on consumption.
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant