Oil prices fell sharply this week as soft economic readings and fears of rising interest rates pushed up uncertainty over a recovery in demand this year.
Brent crude is down 24% from June, now trading at $95 a barrel. This figure has dropped more than 30% since March. So, why are oil prices falling? Learn more.
It’s been a mixed week for oil prices as the worsening situation in China is offset by the embargo on Russian oil and OPEC’s December 4th meeting. Learn more here.
In November 2020, the UK government unveiled a 10-point plan for net zero carbon emissions by 2050. This plan outlines the key steps that the government will take to achieve the UK’s carbon neutrality target. Although the plan has been critiqued by some who feel the steps aren’t enough for the UK
This week, there has been a tug of war between Chinese demand and weak economic data that has been playing on oil prices. Learn more in our weekly fuel price update.
Next week has the promise to be a better week for fuel card customers as the wholesale cost of oil slightly lowers. Read our weekly update on the oil market here.
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