Inflation ( CCPI)1.5% (Oct 2023)
GDP-3.1% (2Q 2023)
Unemployment5.2% (2Q 2023)
3M T-Bill Rate15.29%
12M T-Bill Rate12.94%
2Y T-Bond Rate14.45%/ 14.50%
4Y T-Bond Rate14.70% / 14.80%
USD/LKR327/328
Reserves $3.56Bn (Oct 2023)
Cum. Trade Deficit $3,307 Mn (Sep 2023 cumulative)
Cum. Fiscal DeficitLKR 1,614 Bn (Sep 2023)

Global crude oil prices fell more than 10%

EnergyJul 6, 2022
Global crude oil prices fell more than 10%

Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products (CNBC). But slightly recovered as supply concerns returned back to normal today.

Citi said Tuesday that Brent could fall to USD 65 by end of this year should the economy tip into a recession. “In a recession scenario with rising unemployment, household and corporate bankruptcies, commodities would chase a falling cost curve as costs deflate and margins turn negative to drive supply curtailments,” the firm wrote in a note to clients. (CNBC)

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