Crude oil prices fell sharply ahead of the weekend, with a barrel of West Texas Intermediate (WTI) falling below $110.00 for the first time in three weeks. At the time of writing, the WTI was down 6.4 percent on the day, trading at $109.50.
Investors are growing increasingly anxious about the prospects for energy consumption as major central banks continue to tighten their policies to combat inflation despite recession threats.
Reuters reported earlier in the day, citing Tass news agency, that the Russian deputy energy minister expected Russia's oil shipments to climb in 2022, despite Western sanctions and the European embargo.
Investors are growing increasingly anxious about the prospects for energy consumption as major central banks continue to tighten their policies to combat inflation despite recession threats.
Reuters reported earlier in the day, citing Tass news agency, that the Russian deputy energy minister expected Russia's oil shipments to climb in 2022, despite Western sanctions and the European embargo.