scorecardresearchOil Set for First Quarterly Drop Since 2020 as Macro Mood Sours

Oil Set for First Quarterly Drop Since 2020 as Macro Mood Sours

Updated: 30 Sep 2022, 08:14 AM IST
TL;DR.
Oil is poised to eke out its first weekly gain since the end of August, despite the overall bearish sentiment, as escalating tension with Russia and a surprise drop in US crude stockpiles signaled potential tightening of supply.
FILE - A pump jack extracts crude oil at an oil field near wind turbines in Emlichheim, Germany, March 18, 2022. Most major countries are finding it easier to promise to fight climate change than actually do it. Experts tracking action to reduce carbon emissions say of the major economies only the European Union is close to doing what's necessary to limit global warming to a few more tenths of a degree. (AP Photo/Martin Meissner, File)

FILE - A pump jack extracts crude oil at an oil field near wind turbines in Emlichheim, Germany, March 18, 2022. Most major countries are finding it easier to promise to fight climate change than actually do it. Experts tracking action to reduce carbon emissions say of the major economies only the European Union is close to doing what's necessary to limit global warming to a few more tenths of a degree. (AP Photo/Martin Meissner, File)