The cost of a barrel of Brent Crude rose $3.74, or nearly 4% overnight to $100.22 after Saudi Arabia mooted the idea of cuts in production to support profits and reports of US stockpiles falling by more than five million barrels.
The rise gave nervy investors another reason to shun shares ahead of a highly anticipated speech from Federal Reserve chairman Jerome Powell on Friday at the annual Jackson Hole economic gathering.
A fall in the price of oil since it peaked at $125 in June has been one of the few bright spots in an otherwise increasingly gloomy economic outlook over recent weeks.
Bu hikaye Evening Standard dergisinin August 24, 2022 sayısından alınmıştır.
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Bu hikaye Evening Standard dergisinin August 24, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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