Oil futures ended Wednesday at their highest in more than three weeks after the U.S. government reported a more than 12 million-barrel weekly drop in domestic crude inventories — the largest so far this year. The rise in prices came a day after Saudi Arabia’s energy minister warned of pain…
Tag: Crude Oil WTI (NYM $/bbl) Front Month
Energy and materials stocks face rough ride as commodity prices come off the boil, says economist
The energy and materials sectors might struggle the next few years as inflation and aggressive interest-rate hikes lead to a sharp global slowdown, warned an economist at Capital Economics. The S&P GSCI energy spot index SPGSEN, +0.20%, which tracks prices for oil and its derivatives, peaked on June 9. While…