Oil returns to pre-war levels in Ukraine on recession fears

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Oil reached the same level as before the pandemic and the war in Eastern Europe, after a general fall in commodity prices due to market fears of a global recession.

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The price of a barrel of Brent type closed at US$ 94 on Thursday (4), having been traded since the beginning of the week below US$ 100. This value had not been reached since February 18 of this year, before Russia invaded. to Ukraine.

Another factor driving the drop in oil is the smaller amount of travel by Americans, thus decreasing demand for the fuel.

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*Posted by Fabricio Julião, from CNN Brasil Business

Source: CNN Brasil

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