Home Business Oil Prices Slump as Recession Fears Grow

Oil Prices Slump as Recession Fears Grow

0
Oil Prices Slump as Recession Fears Grow


Another turbulent week in oil markets carried crude prices to their lowest point since January, with thin trading and a blurry outlook for supply and demand driving a fitful 30% decline from this year’s highs. 

A 5.9% gain since Wednesday notwithstanding, the main U.S. oil benchmark has shed about $35 a barrel since peaking above $122 three months ago. West Texas Intermediate closed Friday at $86.79. Brent crude futures, the primary international price gauge, ended at $92.84. 



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here