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Jul 27 at 04:07 AM
Brent crude oil is falling significantly back to around $90, following a pause in strikes by the US and Iran over the weekend, although negotiations are ongoing rather than an official ceasefire; it closed at $96.28 on Friday after trading above $100 for several weeks.
The 顺势 (following the trend) decline in oil prices is a positive development for energy-importing Singapore.
Global energy costs in June impacted consumer prices, leading to high core inflation in Singapore. Consequently, the Monetary Authority of Singapore has tightened monetary policy, creating a chain reaction.
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