Saturday, June 10, 2023
19.4 C
New Jersey

Oil Prices to Rebound After US Banking Crisis in Moscow

Must read

Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Russian Energy Minister Alexander Novak said that the fall in world oil prices is due to the banking crisis in the United States, and he expects them to return to previous levels in the foreseeable future.

Novak said today, Thursday, in response to a reporter’s question whether he expects stability in the second half of the year for oil prices, which have suffered a decline: “I think that the decline in prices is due to the banking crisis, which has raised a lot of risks for the economy as a whole.”

He added: “Of course, the oil market reacts to this. But, as we can see, the situation is improving, and prices are gradually returning to what they were. In my opinion, even in the short term, they should restore their previous level.”

Source: Sputnik

More articles

Latest article