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Oil and Natural Gas: Fears of global inflation
Crude oil prices fell more than $ 2.00 on Monday as an outbreak in Beijing eroded hopes of rapid growth in fuel demand in China, while fears of global inflation and economic growth further pushed the market. Prices fell after Chinese officials warned of the virus’s spread in the capital and announced plans for mass testing in Beijing by Wednesday. Concerns about further interest rate hikes following a sharp rise in U.S. inflation data on Friday are also putting pressure on global financial markets. Both global gains rose more than 1% last week after data showed strong demand for oil in the world’s largest ... (full story)