Energy news

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US economy contracts again, stagflation is here, stocks embrace idea of potentially less aggressive Fed, oil volatile, gold shines, bitcoin rallies

US GDP declines in Q2 The US economy is weakening much faster than anyone expected. The first look at the second quarter showed another negative reading, which was a surprise for most on Wall Street.

28-07-2022 15:13 GMT by Edward Moya

Oil dips, gold rises after Fed, GDP

Oil turns lower on recession risk Oil has turned lower since the open, in line with the moves we've seen in equity markets. It would appear the economic reality isn't being lost everywhere and the big downside risk for oil in recent weeks - recession - is weighing on the price once more.

28-07-2022 11:30 GMT by Craig Erlam