Oil drops over 5%, Brent below $78
04/01/2023
Argaam
Oil drilling rigs
Oil prices plunged more than 5% today, Jan. 4, amid continued concerns over demand in 2023 as investors analysed the possibility of a global economic recession.
The ISM Manufacturing PMI for the US fell to the lowest level since May 2020, according to the latest data.
Meanwhile, coronavirus cases continue to rise in China after the authorities eased restrictions related to containing the spread of COVID-19.
In terms of trading, Brent crude recorded a decline of 5.2%, or $4.26, to reach $ 77.84 a barrel upon settlement.
WTI crude fell by 5.3%, or $4.09, to $72.84 a barrel.
Market Indices
TASI
10,542.23
(47.72)
(0.45 %)
About Us
Join Us
Argaam Tools is an advanced tool that provides investors, analysts, research houses, and corporate executives with easy access to a single source for in-depth data on macroeconomy, capital market, sectors, and companies insights.
Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}