01 Nov, 23

Israel And Interest Rates Keep Oil Prices Erratic

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The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region, the World Bank warned this week. Meanwhile, traders—worried about the effect of high interest rates on oil consumption—sparked a sell-off last week, extending a selling streak to four out of the five last weeks. Oil prices are on a wildly swinging seesaw, with interest rates and the war premium in a constant battle with no clear view of which one would gain the upper hand. In its latest Commodity Markets Outlook, the…

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