Oil Dips As Fear Of Recession Prevails On Market ...Middle East

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Oil Dips As Fear Of Recession Prevails On Market
source : OILPRICE ( Middle East ) () 27
After two days of gains, oil prices turned lower early on Friday, weighed down by lingering concerns about recession in major economies and a strong dollar, which makes crude more expensive for holders of other currencies. As of 9:00 a.m. ET on Friday, WTI Crude was trading below the $90 a barrel mark, at $88.93, down by 1.73%. The international benchmark, Brent Crude, was below $95 per barrel and traded at $94.77, down by 1.88% on the day. Both benchmarks were on track for a weekly loss of over 3.5%, as fears of a global economic slowdown trumped…

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