Oil gives up gains as soaring US dollar offsets Putin’s troop mobilization


Wed, 2022-09-21 17:42

NEW YORK: Oil prices gave up early gains on Wednesday as a soaring dollar and global recession fears offset worries about a Russian military mobilization.

A big increase in US crude stocks could also weaken oil prices. Analysts forecast US crude stocks rose 2.2 million barrels last week.

On Tuesday, data from the American Petroleum Institute industry group showed crude stocks rose 1.0 million barrels in the week to Sept. 16.

A big increase in US crude stocks could also weaken oil prices. Analysts forecast US crude stocks rose 2.2 million barrels last week.
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