The oil market is currently going through another rough patch as investors continue to grapple with inflationary, recessionary and demand fears. Oil prices have continued their weeks’-old downtrend after inflation came in higher than forecast and triggered a sharp sell-off on Wall Street. The consumer price index (CPI) for the month of August increased 0.1%, above economists’ expectations for a 0.1% drop. Most worryingly for policymakers, core inflation rose by 0.6% for an annual increase of 6.3%, considerably higher than the…
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