Should You Buy The Oil Price Dip? ...Middle East

OILPRICE - Economy
Should You Buy The Oil Price Dip?
source : OILPRICE ( Middle East ) () 36
Oil prices nosedived alongside the broader market on Tuesday, with U.S. crude dipping to the psychologically important level of $100/bbl as growing recession fears coupled with concerns over weakening demand outweigh a fundamentally tight supply market. WTI crude tumbled 8.2% to $99.50/bbl, the lowest since April 25 and the first close below the $100/bbl level in more than a month. At one point, WTI crumbled more than 10% to trade as low as $97.43. Meanwhile, front-month Brent crude fell by even more, losing 9.4% to $102.77/bbl, its lowest settlement…

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