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Crude oil slumps 7% to four-week low on recession worries amid US Fed interest rate hike and strong dollar

Crude oil slumps 7% to four-week low on recession worries amid US Fed interest rate hike and strong dollar

Sat, Jun 18, 2022

Also pressuring prices, the U.S. dollar this week rose to its highest level since December 2002 against a basket of currencies, making oil more expensive for buyers using other currencies.

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