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Concerns for economic growth Oil suffered its third weekly loss

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May 6, 2023
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Oil prices suffered a third consecutive weekly decline, after falling sharply earlier in the week ahead of major central banks’ interest rate hike decisions, and on concerns that the US banking crisis USA does not slow down the economy and does not decrease the demand for oil.

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Arab Desk

Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

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