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Cooling Demand

Oil price slump signals a rough reality for economic growth

Jack Inabinet
Nov 7, 2023 • 1 min read

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Cooling Demand: Oil prices broke August lows and are down 4% amid concerns of slowing demand. Can crypto outperform if the economy continues to worsen?

Oil prices sink on 'demand destruction' worries, weak China exports https://t.co/KMjwqvXbss by @ines_ferre

While Chinese oil imports have shown signs of growth, exports contracted faster than expected. Oil prices rebounded in early October in response to renewed conflict between Israel and Palestine, but they’ve been on the decline since the 20th of last month.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.