Oil Heads for 4th Week of Losses as Fed Jitters Offset Tightening Supply

From investing.com

Oil prices rose slightly on Friday, but were set to lose for a fourth straight week as concerns over headwinds from rising interest rates outweighed expectations that crude supply will tighten due to the Russia-Ukraine conflict. Concerns over rising interest rates across the globe, particularly after a hike by the Federal Reserve this week, dented crude prices as traders feared tighter liquidity conditions and more headwinds to economic growth. Still, oil prices trimmed some of their weekly losses after Russia appeared set to escalate its invasion of Ukraine, a move that could potentially disrupt oil shipments and ... (full story)