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Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth. The main factors that have affected the Oil demand increase are economic sanctions on Russia and the high prices decreasing demand internationally.Analysts believe that a global recession is imminent due to the increased inflation within the United States.

Oil swings higher as tight supplies overshadow demand destruction

Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth. The main factors that have affected the Oil demand increase are economic sanctions on Russia and the high prices decreasing demand internationally.Analysts believe that a global recession is imminent due to the increased inflation within the United States.

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