Brent Crude Oil Prices At 5 Week Lows, Silver Prices Affected By Aggressive Monetary Policy, New Concerns Around Corn Supplies

[FXMAG]

Summary:

The international oil benchmark fell around 6% on Friday.
Silver fell below the $22 per-ounce mark on Friday, closing at its lowest level since June 2020.
Failed negotiations between Russia and the Ukraine.
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Brent Crude Oil prices remain supported
Brent Crude Oil prices fell to almost 5 week lows on Monday amidst concerns around slowing global economic growth and fuel demand which outweighed expectations of higher near-term consumption and ongoing supply issues. The international oil benchmark fell around 6% on Friday amidst concerns of global economic fallouts from higher interest rates shook financial markets.

U.S Energy Secretary Jennifer Granholm warned markets of a “continued upward pull on demand” over the weekend, and of the likelihood of high gasoline prices continuing. Crude prices have been supported by the war in the Ukraine, civil unrest in Libya and OPEC’s failure to pump more oil.

https://www.fxmag.com/commodities/brent-crude-oil-prices-at-5-week-...