Branch2 Intelligence
Oil Price Today (July 6): Crude oil extends fall, hovers below $72. Here are 2 major reasons for the decline
Key takeaway
Brent crude falls to $71.88, WTI to $68.58 on macroeconomic fears and demand concerns.
- Step 11st-order: Global crude oil prices fall below $72 on macroeconomic fears and demand concerns.
- Step 22nd-order: UK SMEs in fuel-intensive sectors experience lower input costs, improving margins.
- Step 33rd-order: Sustained low oil prices may reduce UK inflation, easing pressure on the BoE to hike rates, but also signal weaker global demand affecting UK exports.
Source: IN:Economic Times
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